Section 51C of the Hong Kong Inland Revenue Ordinance requires every person carrying on a trade, profession or business in Hong Kong to keep sufficient records of his income and expenditure to enable the assessable profits to be readily ascertained and shall retain such records for not less than 7 years.
Failure to comply with the record-keeping requirements under Section 51C of the Ordinance shall be guilty of an offence and will be subject to a maximum fine of HK$100,000.
Ensure you comply with the rules and regulations and file your accounts and taxes on time. Our team works with companies from varied industries to manage accounts, prepare reports and stay current with the taxation rules.
We offer customised accounting packages based on the clients’ needs. Get in touch with us to find out more.