{"id":27884,"date":"2026-08-20T07:03:39","date_gmt":"2026-08-20T07:03:39","guid":{"rendered":"https:\/\/www.genacct.com\/hk-self-employed-profits-tax-vs-salary-tax\/"},"modified":"2026-08-20T08:29:43","modified_gmt":"2026-08-20T08:29:43","slug":"hk-self-employed-profits-tax-vs-salary-tax","status":"publish","type":"post","link":"https:\/\/www.genacct.com\/en\/hk-self-employed-profits-tax-vs-salary-tax\/","title":{"rendered":"Profits Tax vs. Salaries Tax for the Self-Employed: A Complete Guide for Part-timers, Slashies, and the Dual-Employed"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"27884\" class=\"elementor elementor-27884 elementor-27836\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6182f14 myahref elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6182f14\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ac65805\" data-id=\"ac65805\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b0a8ffe elementor-widget elementor-widget-text-editor\" data-id=\"b0a8ffe\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<article class=\"genacct-article\" lang=\"zh-Hant\"><h1><span style=\"font-size: 1rem; font-style: inherit; font-weight: inherit; color: #2c3e50;\">Personal taxation in Hong Kong is divided into three main categories: Salaries Tax, Profits Tax, and Personal Assessment. Self-employed individuals (working independently, without an employment contract, and serving clients in their own name) must pay Profits Tax on business profits. The two-tiered tax rates for unincorporated businesses are 7.5% on the first HKD 2 million and 15% on the remainder. Employed persons (with an employment contract and receiving a fixed salary) must pay Salaries Tax, subject to progressive rates of 2%\u201317% or a standard rate of 15%.<\/span><\/h1><div class=\"hook-block\"><p><strong>In simple terms: Having a boss \u2192 Salaries Tax; Being your own boss \u2192 Profits Tax. If you are both employed and self-employed, both types of tax can be reported separately on the same BIR60 form. It is recommended to apply for Personal Assessment simultaneously; the Inland Revenue Department will automatically compare the calculations and charge the lower amount.<\/strong><\/p><\/div><aside class=\"key-takeaways\" aria-label=\"\u91cd\u9ede\u6458\u8981\"><h2>Key Summary<\/h2><ul><li>Self-employed individuals report Profits Tax (BIR60 Part 5); employed individuals report Salaries Tax (BIR60 Part 4).<\/li><li>Two-tiered Profits Tax rates for unincorporated businesses: 7.5% for the first HKD 2 million, 15% thereafter. Salaries Tax: progressive rates of 2%\u201317% or a standard rate of 15%.<\/li><li>Those who are both employed and self-employed only need to fill out one BIR60, with employment income and business profits reported separately.<\/li><li>In all cases, it is recommended to apply for Personal Assessment simultaneously; the IRD will automatically compare and charge the lower tax amount.<\/li><li>Accounting records must be kept for at least 7 years; under-reporting can lead to heavy fines and imprisonment.<\/li><\/ul><\/aside><nav class=\"table-of-contents\" aria-label=\"\u76ee\u9304\"><h2>Table of Contents<\/h2><ul><li><a href=\"#\u57fa\u672c\u6982\u5ff5\">Basic Concepts of Tax Filing for the Self-Employed<\/a><\/li><li><a href=\"#\u5b8c\u6574\u6bd4\u8f03\">Full Comparison: Profits Tax vs. Salaries Tax<\/a><\/li><li><a href=\"#\u5168\u8077\u81ea\u50f1\">Full-time Self-employment: Scenarios and Procedures for Reporting Profits Tax<\/a><\/li><li><a href=\"#\u53d7\u50f1\u517c\u81ea\u50f1\">Employed and Self-employed: Reporting Methods for Dual Status<\/a><\/li><li><a href=\"#\u659c\u69d3\u65cf\">Handling Slashies and Multiple Part-time Jobs<\/a><\/li><li><a href=\"#BIR60\u586b\u8868\">BIR60 Filing Steps and Personal Assessment<\/a><\/li><li><a href=\"#\u6f0f\u5831\u7f70\u5247\">Penalties for Under-reporting and Remedies<\/a><\/li><li><a href=\"#FAQ\">Frequently Asked Questions (FAQ)<\/a><\/li><\/ul><\/nav><hr \/><h2 id=\"\u57fa\u672c\u6982\u5ff5\">Basic Concepts of Tax Filing for the Self-Employed<\/h2><p>Personal taxation in Hong Kong is mainly divided into three categories: <strong>Salaries Tax<\/strong>, <strong>Profits Tax<\/strong>, and <strong>Personal Assessment<\/strong>. Most employed individuals who receive a salary from an employer must pay Salaries Tax. Those who serve clients independently and carry on a business in their own name to earn profits are considered self-employed and must pay Profits Tax on business profits. There are significant differences between the two in terms of reporting methods, tax bases, and deductible items.<\/p><p>The core difference between being self-employed and employed lies in the substance of the working relationship, rather than the title on the contract. The <a href=\"https:\/\/www.elegislation.gov.hk\/hk\/cap112\" target=\"_blank\" rel=\"noopener\">Inland Revenue Ordinance<\/a> stipulates that individuals who work independently, have no employment contract, serve clients in their own name, and are responsible for their own profits and losses are self-employed and must report Profits Tax. Conversely, those with an employment contract who follow an employer&#8217;s instructions and receive a fixed salary are employed persons and must report Salaries Tax.<\/p><p>Employers of employed persons will file <a href=\"https:\/\/www.genacct.com\/en\/employers-return\/\">Form IR56B (Employer&#8217;s Return of Remuneration and Pensions)<\/a>. If remuneration is paid to self-employed\/non-employee persons, the employer must file <a href=\"https:\/\/www.genacct.com\/en\/ir56m\/\">Form IR56M (Notification by an employer of remuneration paid to persons other than employees).<\/a> Additionally, with the implementation of the new <a href=\"https:\/\/www.genacct.com\/en\/payroll-418-468\/\">&#8220;418&#8221; to &#8220;468&#8221;<\/a> transition in labor legislation, employers need to re-examine the statutory benefits and tax reporting status of part-time employees.<\/p><p>In simple terms: <strong>Having a boss \u2192 Salaries Tax; Being your own boss \u2192 Profits Tax.<\/strong> However, actual situations are often more complex\u2014many people have both a full-time job and part-time work, or have diverse income as a slashie. In such cases, one needs to handle two or more tax identities on the same tax return. For detailed legal definitions of self-employment and employment, please refer to the <a href=\"https:\/\/www.genacct.com\/en\/individual-tax-guide\/\">Hong Kong Personal Tax Guide<\/a>.<\/p><figure class=\"article-image\"><img decoding=\"async\" src=\"https:\/\/www.genacct.com\/wp-content\/uploads\/2026\/08\/\u81ea\u50f1\u4eba\u58eb\u5831\u7a05\u57fa\u672c\u6982\u5ff5.webp\" alt=\"Basic Concepts of Tax Filing for Self-Employed in Hong Kong: Core Differences and Criteria for Profits Tax vs. Salaries Tax\" title=\"\"><\/figure><h2 id=\"\u5b8c\u6574\u6bd4\u8f03\">Full Comparison: Profits Tax vs. Salaries Tax<\/h2><h3>Tax Basis and Target Audience<\/h3><table class=\"spec-snapshot\"><thead><tr><th>Item<\/th><th>Self-employed (Profits Tax)<\/th><th>Employed (Salaries Tax)<\/th><\/tr><\/thead><tbody><tr><td><strong>Target Audience<\/strong><\/td><td>Self-employed persons carrying on a business<\/td><td>Employed persons receiving employment income<\/td><\/tr><tr><td><strong>Tax Basis<\/strong><\/td><td>Business Profits (Income \u2212 Expenses) = Income \u2013 Cost &#8211; Expenses<\/td><td>Employment Income (Salary, Allowances, Bonuses)<\/td><\/tr><tr><td><strong>Reporting Form<\/strong><\/td><td>BIR60 Form Part 5<\/td><td>BIR60 Form Part 4<\/td><\/tr><tr><td><strong>Basic Allowance<\/strong><\/td><td>None (but business expenses are deductible)<\/td><td>Yes (Basic Allowance HKD 132,000\/year)<\/td><\/tr><\/tbody><\/table><p class=\"callout-block\">For more on how Salaries Tax is calculated, please refer to the <a href=\"https:\/\/www.genacct.com\/en\/salary-tax\/\">Complete Guide to Hong Kong Salaries Tax<\/a>.<\/p><h3>Tax Rate Comparison<\/h3><table class=\"spec-snapshot\"><thead><tr><th>Item<\/th><th>Profits Tax (Unincorporated Two-tiered)<\/th><th>Salaries Tax<\/th><\/tr><\/thead><tbody><tr><td><strong>First HKD 2 Million<\/strong><\/td><td><strong>7.5%<\/strong><\/td><td>N\/A<\/td><\/tr><tr><td><strong>Over HKD 2 Million<\/strong><\/td><td><strong>15%<\/strong><\/td><td>N\/A<\/td><\/tr><tr><td><strong>Progressive Rates<\/strong><\/td><td>N\/A<\/td><td><strong>2%\u201317%<\/strong> (depending on Net Chargeable Income)<\/td><\/tr><tr><td><strong>Standard Rate<\/strong><\/td><td>15%<\/td><td><strong>15%<\/strong> (Net Income); Two-tiered from 2024\/25: 15% for first HKD 5,000,000, 16% for the remainder<\/td><\/tr><tr><td><strong>2025\/26 Reduction<\/strong><\/td><td>100%, capped at HKD 3,000<\/td><td>100%, capped at HKD 3,000<\/td><\/tr><\/tbody><\/table><h3>Deductible Items<\/h3><ul><li><strong>Profits Tax<\/strong>: All reasonable expenses related to the business are deductible, including equipment depreciation, office rent, software subscriptions, marketing costs, etc. Mandatory MPF contributions for self-employed persons (capped at HKD 18,000\/year) are also deductible.<\/li><li><strong>Salaries Tax<\/strong>: Mandatory MPF contributions for employees (capped at HKD 18,000\/year), approved charitable donations, self-education expenses, etc., are deductible, but personal living expenses are not.<\/li><\/ul><h3>Mandatory MPF Contributions<\/h3><table class=\"spec-snapshot\"><thead><tr><th>Item<\/th><th>Self-employed<\/th><th>Employed<\/th><\/tr><\/thead><tbody><tr><td><strong>Mandatory Contribution<\/strong><\/td><td>5% of annual income (capped at HKD 18,000\/year)<\/td><td>Employee 5% + Employer 5%<\/td><\/tr><tr><td><strong>Tax Deductible<\/strong><\/td><td>Yes (deducted under Profits Tax)<\/td><td>Yes (deducted under Salaries Tax)<\/td><\/tr><tr><td><strong>Form<\/strong><\/td><td>Reported in BIR60 Part 5<\/td><td>BIR60 Part 4<\/td><\/tr><\/tbody><\/table><p><em>Note: IR56B is the form for employers to report employee remuneration; employees themselves do not need to fill out IR56B.<\/em><\/p><h3>Provisional Tax<\/h3><p>Both have a provisional tax mechanism\u2014the IRD will estimate the next year&#8217;s tax based on the current year&#8217;s income, and taxpayers must pay in advance. If the actual income for the next year is lower than the estimate, you can apply to the IRD for a hold-over of provisional tax. For details on how provisional tax is calculated, please refer to the <a href=\"https:\/\/www.genacct.com\/en\/provisional-tax\/\">Hong Kong Provisional Tax Guide<\/a>.<\/p><h2 id=\"\u5168\u8077\u81ea\u50f1\">Full-time Self-employment: Scenarios and Procedures for Reporting Profits Tax<\/h2><h3>Case Scenario: Siu Ming is a full-time freelance designer<\/h3><p>Siu Ming takes on graphic design projects full-time in his own name, has no fixed employer, and signs contracts with clients under the name &#8220;Siu Ming Studio.&#8221; His annual income is approximately HKD 600,000, and he has applied for business registration. <strong>Siu Ming&#8217;s tax status: Self-employed, must report Profits Tax.<\/strong><\/p><p>For details on how freelancers can apply for business registration, please refer to the <a href=\"https:\/\/www.genacct.com\/en\/business-registration\/\">Complete Guide to Hong Kong Business Registration<\/a>.<\/p><div class=\"callout-block\"><h4>Taxation method applicable to Siu Ming:<\/h4><ul><li>Fill out <strong>BIR60 Form Part 5<\/strong> (Profits Tax section)<\/li><li>Calculated according to the <strong>two-tiered Profits Tax rates<\/strong>: 7.5% on the first HKD 2,000,000, and 15% on the remainder<\/li><li>Business expenses and mandatory MPF contributions for self-employed persons (capped at HKD 18,000\/year) are deductible<\/li><li><strong>General Accounting suggests<\/strong>: You can apply for <strong>Personal Assessment<\/strong> at the same time; the IRD will automatically compare the two calculation methods and charge the lower amount<\/li><\/ul><\/div><h3>Reporting Process<\/h3><ol><li><strong>Receive BIR60 Form annually<\/strong> (Tax Return \u2013 Individuals, usually issued by the IRD in May)<\/li><li><strong>Prepare accounting accounts<\/strong>: Calculate total annual business income and expenses to determine net profit or loss. <strong>Accounting records must be kept for at least 7 years<\/strong>.<\/li><li><strong>Fill out BIR60 Part 5<\/strong>: Report business name, business registration number, total income, deductible expenses, mandatory MPF contributions, etc.<\/li><li><strong>Calculate assessable profits<\/strong>: Income \u2013 Cost \u2212 Expenses \u2212 Depreciation = Profit<\/li><li><strong>Choose taxation method<\/strong>: Two-tiered Profits Tax or Personal Assessment (the IRD will automatically compare and take the lower tax amount)<\/li><li><strong>Submit to IRD with accounts<\/strong>: Small businesses (total income not exceeding HKD 2,000,000) do not need to attach accounts when submitting BIR60, but <strong>General Accounting recommends attaching them anyway<\/strong>, as the IRD almost always requests them later<\/li><\/ol><p class=\"callout-block\"><strong>General Accounting Note:<\/strong> Although accounts do not need to be attached to the BIR60 if total annual income does not exceed HKD 2,000,000, in the vast majority of cases, the Inland Revenue Department will request them. Therefore, General Accounting recommends attaching the accounts when submitting the tax return.<\/p><figure class=\"article-image\"><img decoding=\"async\" src=\"https:\/\/www.genacct.com\/wp-content\/uploads\/2026\/08\/\u5168\u8077\u81ea\u50f1\uff1a\u5229\u5f97\u7a05\u7533\u5831\u6d41\u7a0b-6-\u6b65.webp\" alt=\"Profits Tax Reporting Process for Full-time Self-employed: A Complete 6-Step Tutorial from Receiving BIR60 to Submitting Accounts\" title=\"\"><\/figure><h3>Business Registration Reminder<\/h3><p>Self-employed persons must apply for business registration with the Inland Revenue Department within <strong>1 month<\/strong> of starting business operations; otherwise, they may be fined. For detailed fees and application procedures for business registration, please refer to the <a href=\"https:\/\/www.genacct.com\/en\/business-registration\/\">Complete Guide to Hong Kong Business Registration<\/a>.<\/p><h2 id=\"\u53d7\u50f1\u517c\u81ea\u50f1\">Employed and Self-employed: Reporting Methods for Dual Status<\/h2><h3>Case Scenario: Siu Mei is a full-time employee who does personal shopping services part-time after work<\/h3><p>Siu Mei works at a trading company with a monthly salary of HKD 30,000, and has an annual income of about HKD 100,000 from her amateur personal shopping business.<strong>Siu Mei has two sources of income simultaneously:<\/strong><\/p><table class=\"spec-snapshot\"><thead><tr><th>Income Type<\/th><th>Source<\/th><th>Applicable Tax<\/th><th>Reporting Section<\/th><\/tr><\/thead><tbody><tr><td>Full-time Salary HKD 30,000\/month<\/td><td>Employment Income<\/td><td>Salaries Tax<\/td><td>BIR60 Part 4<\/td><\/tr><tr><td>Personal Shopping Annual Income HKD 100,000<\/td><td>Business Profits<\/td><td>Profits Tax<\/td><td>BIR60 Part 5<\/td><\/tr><\/tbody><\/table><h3>Key Considerations<\/h3><p><strong>1. If you have both salary income and business income, you only need to fill out one BIR60.<\/strong> Report them separately in different sections of the same form\u2014salary income in Part 4 and business income in Part 5.<\/p><p><strong>2. Personal shopping income can deduct business-related expenses.<\/strong> For example: shipping costs, packaging materials, and online store platform fees can all be deducted as business expenses.<\/p><p><strong>3. Allocation of MPF contributions.<\/strong> Siu Mei&#8217;s employer already deducts MPF contributions from her full-time job. For her self-employed personal shopping business, she can deduct the remaining mandatory MPF contributions (capped at HKD 18,000\/year, the balance after deducting the amount already paid through her full-time job) under Profits Tax.<\/p><p><strong>4. It is recommended to apply for Personal Assessment simultaneously.<\/strong> When you have both salary income and business profits, Personal Assessment can combine the two and tax them at progressive rates (2%\u201317%). The IRD will automatically compare the &#8220;tax calculated under two-tiered Profits Tax&#8221; with the &#8220;tax calculated under Personal Assessment&#8221; and ultimately charge the lower amount.<\/p><figure class=\"article-image\"><img decoding=\"async\" src=\"https:\/\/www.genacct.com\/wp-content\/uploads\/2026\/08\/\u53d7\u50f1\u517c\u81ea\u50f1-\u586b\u5831BIR60\u500b\u4eba\u5831\u7a05\u8868\u6559\u5b78.webp\" alt=\"Tax Tutorial for Dual Status (Employed and Self-employed): Reporting Salary Income and Business Profits in BIR60 Part 4 and Part 5 Respectively\" title=\"\"><\/figure><p>If you have both salary income and business profits, please refer to the <a href=\"https:\/\/www.genacct.com\/en\/unlimited-company-taxation\/\">Unlimited Company Tax Guide<\/a> and <a href=\"https:\/\/www.genacct.com\/en\/register-company-tax-deduction\/\">Complete Guide to Company Tax Filing and Deductions<\/a> to learn how to combine the calculations.<\/p><p class=\"callout-block\"><strong>General Accounting Note:<\/strong> In all cases, it is recommended to apply for Personal Assessment at the same time. The IRD will automatically compare the &#8220;tax calculated under two-tiered Profits Tax&#8221; with the &#8220;tax calculated under Personal Assessment,&#8221; and will only levy the lower tax amount.<\/p><h2 id=\"\u659c\u69d3\u65cf\">Handling Slashies and Multiple Part-time Jobs<\/h2><h3>Case Scenario: Tai Wah has three sources of income simultaneously<\/h3><p>Tai Wah is a full-time engineer who manages multiple income sources in his spare time:<\/p><table class=\"spec-snapshot\"><thead><tr><th>#<\/th><th>Income Source<\/th><th>Annual Income<\/th><th>Applicable Tax<\/th><th>Handling Method<\/th><\/tr><\/thead><tbody><tr><td>1<\/td><td>Full-time Engineer (Salary 50k\/month)<\/td><td>HKD 600,000<\/td><td>Salaries Tax<\/td><td>BIR60 Part 4<\/td><\/tr><tr><td>2<\/td><td>Weekend Private Tutor<\/td><td>HKD 80,000<\/td><td>Depends on situation<\/td><td>Can choose Profits Tax or Personal Assessment<\/td><\/tr><tr><td>3<\/td><td>Amateur Freelance Programming<\/td><td>HKD 150,000<\/td><td>Profits Tax<\/td><td>BIR60 Part 5<\/td><\/tr><\/tbody><\/table><h3>Practical Advice<\/h3><p><strong>1. Keep complete records of income and expenditure.<\/strong> Establish separate accounts for each income source, including invoices, receipts, and quotations, for IRD audit purposes. Accounting records must be kept for at least 7 years.<\/p><p><strong>2. Distinguish between company expenses and private expenses.<\/strong> Only expenses incurred for the purpose of producing profits for the company are tax-deductible. Private expenses, such as those of a domestic or private nature, cannot be used for tax deduction.<\/p><p><strong>3. Evaluate whether Personal Assessment is suitable.<\/strong> When there are multiple income sources, Personal Assessment can combine all income and calculate tax at progressive rates. If the full-time Salaries Tax rate is higher than the Profits Tax rate, combined calculation may be more favorable.<\/p><p><strong>4. Note if total business income exceeds HKD 2,000,000.<\/strong> If total business income exceeds HKD 2,000,000, a balance sheet and Profits Tax computation must be submitted.<\/p><h2 id=\"BIR60\u586b\u8868\">BIR60 Filing Steps and Personal Assessment<\/h2><h3>Steps to Fill Out BIR60<\/h3><p><strong>Step 1: Fill in Basic Information<\/strong><\/p><ul><li>Name, ID number<\/li><li>Business name and business registration number (if any)<\/li><li>Nature of business and address<\/li><\/ul><p><strong>Step 2: Fill in Income and Expenses (Part 5)<\/strong><\/p><ul><li>Total business income<\/li><li>Deductible expenses (business-related costs, mandatory MPF contributions, etc.)<\/li><li>Depreciation allowance (if applicable)<\/li><\/ul><p><strong>Step 3: Calculate Taxable Profit<\/strong><\/p><p>Formula: Income \u2013 Cost \u2212 Expenses \u2212 Depreciation = Profit<\/p><p><strong>Step 4: Choose Taxation Method<\/strong><\/p><ul><li><strong>Two-tiered Profits Tax<\/strong>: 7.5% for the first HKD 2 million, 15% thereafter<\/li><li><strong>Personal Assessment<\/strong>: Combine all income and calculate at progressive rates of 2%\u201317%<\/li><\/ul><figure class=\"article-image\"><img decoding=\"async\" src=\"https:\/\/www.genacct.com\/wp-content\/uploads\/2026\/08\/\u659c\u69d3\u65cf\uff0f\u591a\u4efd\u517c\u8077BIR60-\u586b\u8868-4-\u6b65.webp\" alt=\"Tax Filing Tutorial for Slashies with Multiple Part-time Incomes: 4 Steps to Fill Out BIR60, Handling Reporting for Full-time, Part-time, and Self-employed Income\" title=\"\"><\/figure><h3>Explanation of Personal Assessment<\/h3><p><strong>Applicable Scenarios:<\/strong><\/p><ul><li>Having both salary income and business profits<\/li><li>Business profits are high, but other allowances are not fully utilized<\/li><li>Wishing to unify all income under one tax bracket calculation<\/li><\/ul><p><strong>Why it is sometimes more favorable:<\/strong><\/p><p>Personal Assessment can combine salary income, rental income, and business profits, deduct various allowances (such as Basic Allowance HKD 132,000, Child Allowance, Parent Allowance, etc.), and then calculate tax at progressive rates. If the progressive tax brackets for various types of income are not fully utilized, the tax after combined calculation may be lower than the sum of separate calculations.<\/p><p class=\"callout-block\"><strong>General Accounting suggests:<\/strong> In all cases, it is recommended to apply for Personal Assessment at the same time. The IRD will automatically compare the &#8220;tax calculated under two-tiered Profits Tax&#8221; with the &#8220;tax calculated under Personal Assessment&#8221; and charge the lower amount; <strong>you don&#8217;t need to guess which one is more cost-effective<\/strong>.<\/p><p><em>Note: If business profits do not exceed HKD 2 million, Personal Assessment is not necessarily more favorable because all income must be combined and recalculated. For details, please refer to <a href=\"https:\/\/www.ird.gov.hk\/eng\/faq\/2tr.htm\" target=\"_blank\" rel=\"noopener\">IRD Two-tiered Rates FAQ Q14<\/a>.<\/em><\/p><p>For a complete understanding of Personal Assessment calculations and application procedures, please refer to the <a href=\"https:\/\/www.genacct.com\/en\/unlimited-company-taxation\/\">Unlimited Company Tax Guide<\/a> and <a href=\"https:\/\/www.genacct.com\/en\/register-company-tax-deduction\/\">Complete Guide to Company Tax Filing and Deductions<\/a>.<\/p><h2 id=\"\u6f0f\u5831\u7f70\u5247\">Penalties for Under-reporting and Remedies<\/h2><h3>Common Penalties<\/h3><table class=\"spec-snapshot\"><thead><tr><th>Violation Type<\/th><th>Penalty<\/th><th>Legal Basis<\/th><\/tr><\/thead><tbody><tr><td><strong>Failure to report on time<\/strong><\/td><td>Fine of HKD 10,000, plus 3 times the undercharged tax (repeat offenders may be prosecuted)<\/td><td>Inland Revenue Ordinance Cap. 112 \u00a780(2)<\/td><\/tr><tr><td><strong>Wilful tax evasion<\/strong><\/td><td>Risk of prosecution, maximum fine of HKD 50,000 + 3 times the undercharged tax + 3 years imprisonment (up to 7 years)<\/td><td>Inland Revenue Ordinance Cap. 112 \u00a782<\/td><\/tr><tr><td><strong>Providing false information<\/strong><\/td><td>Maximum fine of HKD 10,000 + 3 times the undercharged tax<\/td><td>Inland Revenue Ordinance Cap. 112 \u00a780(2)<\/td><\/tr><tr><td><strong>Failure to keep accounting records<\/strong><\/td><td>Maximum fine of HKD 100,000 + imprisonment<\/td><td>Inland Revenue Ordinance Cap. 112 \u00a780(1A)<\/td><\/tr><\/tbody><\/table><h3>Remedies<\/h3><p><strong>Proactive Remedy:<\/strong> If you discover an under-reporting, you should proactively contact the IRD to explain the situation. Voluntary disclosure may lead to more lenient treatment.<\/p><p><strong>Payment by Installments:<\/strong> You can apply to pay the arrears in installments to reduce the pressure of a lump-sum payment.<\/p><p><strong>Seek Professional Assistance:<\/strong> Hire a professional tax consultant to help handle complex reporting issues and avoid penalties due to unfamiliarity with regulations. General Accounting provides one-stop personal and company tax filing services. For tax filing deadlines, please refer to the <a href=\"https:\/\/www.genacct.com\/en\/tax-deadline\/\">Summary of Hong Kong Tax Filing Deadlines<\/a>.<\/p><h2 id=\"FAQ\">\u00a0<\/h2><section class=\"summary-section\"><h2>Conclusion<\/h2><p>Self-employed persons in Hong Kong must report Profits Tax on business profits, while employed persons must report Salaries Tax on their salary. If you have both types of income, you only need to report them separately in different sections of the same BIR60 form. It is recommended that all self-employed persons check the Personal Assessment option; the IRD will automatically compare and charge the lower tax amount.<\/p><p>Accounting records must be kept for at least 7 years, and business registration must be applied for within 1 month of commencement. Under-reporting can lead to fines and imprisonment; it is recommended to report proactively and seek professional assistance.<\/p><\/section><\/article>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cc27410 elementor-align-left elementor-mobile-align-justify elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"cc27410\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/wa.me\/85268183861?text=hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Enquire via WhatsApp for Free Now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d87c9d9 elementor-widget elementor-widget-heading\" data-id=\"d87c9d9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Frequently Asked Questions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8c3e885 uael-faq-box-layout-yes align-at-left elementor-widget elementor-widget-uael-faq\" data-id=\"8c3e885\" data-element_type=\"widget\" data-widget_type=\"uael-faq.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\r\n\t\t\t<div id='uael-faq-wrapper-147' class=\"uael-faq-wrapper\">\r\n\t\t\t\t<div class=\"uael-faq-container uael-faq-layout-accordion\" data-layout=\"accordion\" >\r\n\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-54d4e51\" class=\"uael-faq-accordion\" role=\"tablist\">\r\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\r\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t<h3 class=\"uael-question-54d4e51 uael-question-span\" tabindex=\"0\" id=\"uael-faq-1\">Should self-employed persons report Profits Tax or Salaries Tax?<\/h3>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\r\n\t\t\t\t\t\t\t\t\t<span>\r\n\t\t\t\t\t\t\t\t\t<span><p>Self-employed persons (i.e., those working independently, without an employment contract, and serving clients in their own name) must report Profits Tax. If you also have employment income, both types of tax may apply\u2014Salaries Tax for employment income and Profits Tax for self-employed income.<\/p>\n<\/span>\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-8cfd85c\" class=\"uael-faq-accordion\" role=\"tablist\">\r\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\r\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t<h3 class=\"uael-question-8cfd85c uael-question-span\" tabindex=\"0\" id=\"uael-faq-2\">What is the difference between Profits Tax and Salaries Tax?<\/h3>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\r\n\t\t\t\t\t\t\t\t\t<span>\r\n\t\t\t\t\t\t\t\t\t<span><p>Profits Tax applies to business profits (income minus expenses), with rates for unincorporated businesses at 7.5%\u201315% (two-tiered); Salaries Tax applies to employment income, with progressive rates of 2%\u201317% or a standard rate of 15%. For details on Profits Tax calculations, please refer to the <a href=\"https:\/\/www.genacct.com\/en\/company-taxation\/\">Complete Guide to Hong Kong Profits Tax<\/a>.<\/p>\n<\/span>\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-84925f4\" class=\"uael-faq-accordion\" role=\"tablist\">\r\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\r\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t<h3 class=\"uael-question-84925f4 uael-question-span\" tabindex=\"0\" id=\"uael-faq-3\">How to file taxes if I am both employed and self-employed?<\/h3>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\r\n\t\t\t\t\t\t\t\t\t<span>\r\n\t\t\t\t\t\t\t\t\t<span><p>Simply fill out one BIR60 form, reporting salary income in Part 4 and business profits in Part 5. It is recommended to apply for Personal Assessment at the same time; the IRD will automatically choose the more favorable calculation method.<\/p><\/span>\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-0f1953a\" class=\"uael-faq-accordion\" role=\"tablist\">\r\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\r\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t<h3 class=\"uael-question-0f1953a uael-question-span\" tabindex=\"0\" id=\"uael-faq-4\">How should slashies with multiple incomes report their taxes?<\/h3>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\r\n\t\t\t\t\t\t\t\t\t<span>\r\n\t\t\t\t\t\t\t\t\t<span><p>Each income source is subject to a different taxation method. Full-time salary is reported under Salaries Tax, and independent client income is reported under Profits Tax. It is recommended to establish independent income and expenditure records for each source and consider applying for Personal Assessment for a unified calculation.<\/p>\n<\/span>\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-7065a5a\" class=\"uael-faq-accordion\" role=\"tablist\">\r\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\r\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t<h3 class=\"uael-question-7065a5a uael-question-span\" tabindex=\"0\" id=\"uael-faq-5\">Which tax should I report for part-time income?<\/h3>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\r\n\t\t\t\t\t\t\t\t\t<span>\r\n\t\t\t\t\t\t\t\t\t<span><p>It depends on the nature of the part-time work: part-time jobs with a fixed employer usually fall under Salaries Tax; independent work where you are responsible for your own profits and losses falls under Profits Tax.<\/p>\n<\/span>\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-912ca4c\" class=\"uael-faq-accordion\" role=\"tablist\">\r\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\r\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t<h3 class=\"uael-question-912ca4c uael-question-span\" tabindex=\"0\" id=\"uael-faq-6\">How to fill out BIR60? A must-read reporting process for the self-employed<\/h3>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\r\n\t\t\t\t\t\t\t\t\t<span>\r\n\t\t\t\t\t\t\t\t\t<span><p>Self-employed persons must fill in business details in BIR60 Part 5, including business name, total income, deductible expenses, mandatory MPF contributions, etc. Small businesses (total income not exceeding HKD 2,000,000) do not need to attach accounts, but it is recommended to submit them anyway to avoid future requests for documents.<\/p>\n<\/span>\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-95f0a82\" class=\"uael-faq-accordion\" role=\"tablist\">\r\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\r\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t<h3 class=\"uael-question-95f0a82 uael-question-span\" tabindex=\"0\" id=\"uael-faq-7\">How much is the fine for self-employed persons who under-report taxes?<\/h3>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\r\n\t\t\t\t\t\t\t\t\t<span>\r\n\t\t\t\t\t\t\t\t\t<span><p>Failure to report on time results in a fine of HKD 10,000 plus 3 times the undercharged tax; wilful tax evasion can lead to a maximum fine of HKD 50,000 plus 3 times the undercharged tax, and can constitute a criminal offense (up to 3 years imprisonment). It is recommended to contact the IRD proactively for a remedy.<\/p>\n<\/span>\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-3c69392\" class=\"uael-faq-accordion\" role=\"tablist\">\r\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\r\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\r\n\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t<h3 class=\"uael-question-3c69392 uael-question-span\" tabindex=\"0\" id=\"uael-faq-8\">Can self-employed persons apply for Personal Assessment at the same time?<\/h3>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\r\n\t\t\t\t\t\t\t\t\t<span>\r\n\t\t\t\t\t\t\t\t\t<span><p>Yes. Personal Assessment can combine all income sources for calculation. The IRD will automatically compare the tax from Profits Tax and Personal Assessment and charge the lower amount. It is recommended that all self-employed persons check this option.<\/p>\n<\/span>\t\t\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7fe147a elementor-widget elementor-widget-html\" data-id=\"7fe147a\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<iframe width=\"560\" height=\"420\" src=\"https:\/\/www.youtube.com\/embed\/Va6aMazG0_U?si=tKC-BmBAOWzt-nKZ\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen=\"\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-72e13b5 elementor-widget elementor-widget-text-editor\" data-id=\"72e13b5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>General Accounting has been established for over 20 years and holds a Trust or Company Service Provider licence (TC002940). We provide comprehensive BR management services, including BR renewal reminders, address changes, business cessation, and all related tax matters.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3918123 elementor-align-left elementor-mobile-align-justify elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"3918123\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/wa.me\/85268183861?text=hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Enquire via WhatsApp for Free Now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-241731f elementor-widget elementor-widget-text-editor\" data-id=\"241731f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>References<\/h2><p>\u00a0<\/p><ol><li>Inland Revenue Department \u2014 Procedures for Filing Profits Tax Returns (Sole Proprietorship and Partnership Businesses)<br \/><a href=\"https:\/\/www.ird.gov.hk\/eng\/tax\/ind_sp_rep.htm\" target=\"_blank\" rel=\"noopener\" aria-label=\"\u9999\u6e2f\u7a05\u52d9\u5c40\uff1a\u7533\u5831\u5229\u5f97\u7a05\u624b\u7e8c\">https:\/\/www.ird.gov.hk\/eng\/tax\/ind_sp_rep.htm<\/a><\/li><li>Inland Revenue Department \u2014 Application for Business Registration<br \/><a href=\"https:\/\/www.gov.hk\/en\/residents\/taxes\/etax\/services\/application_for_business_registration.htm\" target=\"_blank\" rel=\"noopener\" aria-label=\"\u9999\u6e2f\u7a05\u52d9\u5c40\uff1a\u5546\u696d\u767b\u8a18\u7533\u8acb\">https:\/\/www.gov.hk\/en\/residents\/taxes\/etax\/services\/application_for_business_registration.htm<\/a><\/li><li>Hong Kong Inland Revenue Department \u2014 Two-tiered Profits Tax Rates FAQ<br \/><a href=\"https:\/\/www.ird.gov.hk\/eng\/faq\/2tr.htm\" target=\"_blank\" rel=\"noopener\" aria-label=\"\u9999\u6e2f\u7a05\u52d9\u5c40\uff1a\u5229\u5f97\u7a05\u5169\u7d1a\u5236 FAQ\">https:\/\/www.ird.gov.hk\/eng\/faq\/2tr.htm<\/a><\/li><li>Inland Revenue Department \u2014 Penalty Policy<br \/><a href=\"https:\/\/www.ird.gov.hk\/chi\/pol\/ppo.htm\" target=\"_blank\" rel=\"noopener\">https:\/\/www.ird.gov.hk\/eng\/pol\/ppo.htm<\/a><\/li><li>GovHK \u2014 Profits Tax Rates<br \/><a href=\"https:\/\/www.gov.hk\/en\/residents\/taxes\/taxfiling\/taxrates\/profitsrates.htm\" target=\"_blank\" rel=\"noopener\" aria-label=\"\u9999\u6e2f\u653f\u5e9c\u4e00\u7ad9\u901a\uff1a\u5229\u5f97\u7a05\u7a05\u7387\">https:\/\/www.gov.hk\/en\/residents\/taxes\/taxfiling\/taxrates\/profitsrates.htm<\/a><\/li><li>GovHK \u2014 Salaries Tax &amp; Personal Assessment Tax Rates<br \/><a href=\"https:\/\/www.gov.hk\/sc\/residents\/taxes\/taxfiling\/taxrates\/salariesrates.htm\" target=\"_blank\" rel=\"noopener\" aria-label=\"\u9999\u6e2f\u653f\u5e9c\u4e00\u7ad9\u901a\uff1a\u85aa\u4ff8\u7a05\u53ca\u500b\u4eba\u5165\u606f\u8ab2\u7a05\u7a0e\u7387\">https:\/\/www.gov.hk\/en\/residents\/taxes\/taxfiling\/taxrates\/salariesrates.htm<\/a><\/li><li>Hong Kong e-Legislation \u2014 Inland Revenue Ordinance (Cap. 112)<br \/><a href=\"https:\/\/www.elegislation.gov.hk\/hk\/cap112!en?INDEX_CS=N\" target=\"_blank\" rel=\"noopener\" aria-label=\"\u96fb\u5b50\u7248\u9999\u6e2f\u6cd5\u4f8b\uff1a\u7a05\u52d9\u689d\u4f8b Cap. 112\">https:\/\/www.elegislation.gov.hk\/hk\/cap112!en?INDEX_CS=N<\/a><\/li><li>Hong Kong e-Legislation \u2014 Business Registration Ordinance (Cap. 310)<br \/><a href=\"https:\/\/www.elegislation.gov.hk\/hk\/cap310!en?INDEX_CS=N\" target=\"_blank\" rel=\"noopener\" aria-label=\"\u96fb\u5b50\u7248\u9999\u6e2f\u6cd5\u4f8b\uff1a\u5546\u696d\u767b\u8a18\u689d\u4f8b Cap. 310\">https:\/\/www.elegislation.gov.hk\/hk\/cap310!en?INDEX_CS=N<\/a><\/li><\/ol><h2>Further reading<\/h2><p>\u00a0<\/p><ul><li><a href=\"https:\/\/www.genacct.com\/en\/individual-tax-guide\/\">Personal Tax Guide<\/a> \u2014 Basics of Hong Kong individual tax filing<\/li><li><a href=\"https:\/\/www.genacct.com\/en\/salary-tax\/\">Salaries Tax<\/a> \u2014 Comparing Salaries Tax and Profits Tax<\/li><li><a href=\"https:\/\/www.genacct.com\/en\/company-taxation\/\">Limited Company Tax Filing Guide<\/a> \u2014 Tax filing process after incorporation<\/li><li><a href=\"https:\/\/www.genacct.com\/en\/register-company-tax-deduction\/\">Tax Savings by Setting Up a Company<\/a> \u2014 Tax-saving strategies for limited companies<\/li><li><a href=\"https:\/\/www.genacct.com\/en\/business-registration\/\">The Ultimate Guide to the Business Registration Certificate<\/a> \u2014 Complete guide to Business Registration<\/li><li><a href=\"https:\/\/www.genacct.com\/en\/tax-deadline\/\">Tax Filing Deadlines<\/a> \u2014 Master the deadlines for various tax filings<\/li><li><a href=\"https:\/\/www.genacct.com\/en\/provisional-tax\/\">Provisional Tax<\/a> \u2014 Understand how provisional tax is calculated and how to apply for a hold-over<\/li><\/ul><hr \/>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-930eb18 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"930eb18\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-568609d\" data-id=\"568609d\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5bd9493 uae-toc-hide-heading elementor-widget elementor-widget-heading\" data-id=\"5bd9493\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Questions about \"Tax Filing for the Self-Employed\"?<br \/>General Accounting provides free consultation<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ce57b16 elementor-widget-divider--view-line elementor-invisible elementor-widget elementor-widget-divider\" data-id=\"ce57b16\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;}\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-911d57b elementor-button-align-stretch elementor-widget elementor-widget-form\" data-id=\"911d57b\" data-element_type=\"widget\" data-settings=\"{&quot;step_next_label&quot;:&quot;Next&quot;,&quot;step_previous_label&quot;:&quot;Previous&quot;,&quot;button_width&quot;:&quot;100&quot;,&quot;step_type&quot;:&quot;number_text&quot;,&quot;step_icon_shape&quot;:&quot;circle&quot;}\" data-widget_type=\"form.default\">\n\t\t\t\t\t\t\t<form class=\"elementor-form\" method=\"post\" name=\"New Form\" aria-label=\"New Form\">\n\t\t\t<input type=\"hidden\" name=\"post_id\" value=\"27884\"\/>\n\t\t\t<input type=\"hidden\" name=\"form_id\" value=\"911d57b\"\/>\n\t\t\t<input type=\"hidden\" name=\"referer_title\" value=\"Profits Tax vs. Salaries Tax for the Self-Employed: A Complete Guide for Part-timers, Slashies, and the Dual-Employed\" \/>\n\n\t\t\t\t\t\t\t<input type=\"hidden\" name=\"queried_id\" value=\"27884\"\/>\n\t\t\t\n\t\t\t<div class=\"elementor-form-fields-wrapper elementor-labels-above\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-name elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-name\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tCustomer Name\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[name]\" id=\"form-field-name\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-field_65a0d99 elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_65a0d99\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tCompany Name (if any)\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[field_65a0d99]\" id=\"form-field-field_65a0d99\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-radio elementor-field-group elementor-column elementor-field-group-field_1d1b960 elementor-col-100\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_1d1b960\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tTitle\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t<div class=\"elementor-field-subgroup  elementor-subgroup-inline\"><span class=\"elementor-field-option\"><input type=\"radio\" value=\"Mr. \/ Mrs \/ Miss\" id=\"form-field-field_1d1b960-0\" name=\"form_fields[field_1d1b960]\"> <label for=\"form-field-field_1d1b960-0\">Mr. \/ Mrs \/ Miss<\/label><\/span><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-email elementor-field-group elementor-column elementor-field-group-email elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-email\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tE-mail\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"email\" name=\"form_fields[email]\" id=\"form-field-email\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-tel elementor-field-group elementor-column elementor-field-group-field_4305727 elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_4305727\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tContact Number\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t<input size=\"1\" type=\"tel\" name=\"form_fields[field_4305727]\" id=\"form-field-field_4305727\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" required=\"required\" pattern=\"[0-9()#&amp;+*-=.]+\" title=\"Only numbers and phone characters (#, -, *, etc) are accepted.\">\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-field_d97814d elementor-col-100 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_d97814d\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tInquiries\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[field_d97814d]\" id=\"form-field-field_d97814d\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"Should self-employed persons pay Profits Tax or Salaries Tax?\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-group elementor-column elementor-field-type-submit elementor-col-100 e-form__buttons\">\n\t\t\t\t\t<button class=\"elementor-button elementor-size-sm\" type=\"submit\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Send Immediately<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/button>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/form>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7993b56 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7993b56\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-dad63ce\" data-id=\"dad63ce\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4c71d35 elementor-widget elementor-widget-text-editor\" data-id=\"4c71d35\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<b style=\"font-size: 36px; font-weight: 600; color: #195562;\">Do you need to learn about General Accounting\u2019s professional services? <\/b>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a2bfec6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a2bfec6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-8a93ec8\" data-id=\"8a93ec8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9cd76c1 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"9cd76c1\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta\">\n\t\t\t\t\t<div class=\"elementor-cta__bg-wrapper\">\n\t\t\t\t<div class=\"elementor-cta__bg elementor-bg\" style=\"background-image: url(https:\/\/www.genacct.com\/wp-content\/uploads\/2024\/03\/\u5831\u7a05\u670d\u52d9.webp);\" role=\"img\" aria-label=\"What is the difference between the \u201cEmployer\u2019s Return\u201d BIR56A and IR56B? What you need to know for the latest 2024 filing\"><\/div>\n\t\t\t\t<div class=\"elementor-cta__bg-overlay\"><\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<a class=\"elementor-cta__button elementor-button elementor-size-\" href=\"https:\/\/www.genacct.com\/en\/taxation\/\">\n\t\t\t\t\t\tTax Filing Services\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-d6efc56\" data-id=\"d6efc56\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3eb23c7 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"3eb23c7\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta\">\n\t\t\t\t\t<div class=\"elementor-cta__bg-wrapper\">\n\t\t\t\t<div class=\"elementor-cta__bg elementor-bg\" style=\"background-image: url(https:\/\/www.genacct.com\/wp-content\/uploads\/2024\/03\/\u6703\u8a08\u670d\u52d9.webp);\" role=\"img\" aria-label=\"Accounting and Auditing Services\"><\/div>\n\t\t\t\t<div class=\"elementor-cta__bg-overlay\"><\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<a class=\"elementor-cta__button elementor-button elementor-size-\" href=\"https:\/\/www.genacct.com\/en\/auditing\/\">\n\t\t\t\t\t\tAccounting Services\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-313ea51\" data-id=\"313ea51\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2c5678a elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"2c5678a\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta\">\n\t\t\t\t\t<div class=\"elementor-cta__bg-wrapper\">\n\t\t\t\t<div class=\"elementor-cta__bg elementor-bg\" style=\"background-image: url(https:\/\/www.genacct.com\/wp-content\/uploads\/2023\/08\/\u96e2\u5cb8\u516c\u53f8\u597d\u8655-\u958b\u516c\u53f8-1024x683.webp);\" role=\"img\" aria-label=\"Start a Company\"><\/div>\n\t\t\t\t<div class=\"elementor-cta__bg-overlay\"><\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<a class=\"elementor-cta__button elementor-button elementor-size-\" href=\"https:\/\/www.genacct.com\/en\/set-up-limited-company\/\">\n\t\t\t\t\t\tStart a Company\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-50856c8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"50856c8\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8fec731\" data-id=\"8fec731\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d176f81 elementor-widget elementor-widget-heading\" data-id=\"d176f81\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Questions about \"Tax Filing for Slashies\"?<br \/>General Accounting provides free consultation<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f310275 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"f310275\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"tel:85225819231\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-phone-alt\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M497.39 361.8l-112-48a24 24 0 0 0-28 6.9l-49.6 60.6A370.66 370.66 0 0 1 130.6 204.11l60.6-49.6a23.94 23.94 0 0 0 6.9-28l-48-112A24.16 24.16 0 0 0 122.6.61l-104 24A24 24 0 0 0 0 48c0 256.5 207.9 464 464 464a24 24 0 0 0 23.4-18.6l24-104a24.29 24.29 0 0 0-14.01-27.6z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Phone: (852) 2581 9231<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/wa.me\/85268183861?text=hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fab-whatsapp\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M380.9 97.1C339 55.1 283.2 32 223.9 32c-122.4 0-222 99.6-222 222 0 39.1 10.2 77.3 29.6 111L0 480l117.7-30.9c32.4 17.7 68.9 27 106.1 27h.1c122.3 0 224.1-99.6 224.1-222 0-59.3-25.2-115-67.1-157zm-157 341.6c-33.2 0-65.7-8.9-94-25.7l-6.7-4-69.8 18.3L72 359.2l-4.4-7c-18.5-29.4-28.2-63.3-28.2-98.2 0-101.7 82.8-184.5 184.6-184.5 49.3 0 95.6 19.2 130.4 54.1 34.8 34.9 56.2 81.2 56.1 130.5 0 101.8-84.9 184.6-186.6 184.6zm101.2-138.2c-5.5-2.8-32.8-16.2-37.9-18-5.1-1.9-8.8-2.8-12.5 2.8-3.7 5.6-14.3 18-17.6 21.8-3.2 3.7-6.5 4.2-12 1.4-32.6-16.3-54-29.1-75.5-66-5.7-9.8 5.7-9.1 16.3-30.3 1.8-3.7.9-6.9-.5-9.7-1.4-2.8-12.5-30.1-17.1-41.2-4.5-10.8-9.1-9.3-12.5-9.5-3.2-.2-6.9-.2-10.6-.2-3.7 0-9.7 1.4-14.8 6.9-5.1 5.6-19.4 19-19.4 46.3 0 27.3 19.9 53.7 22.6 57.4 2.8 3.7 39.1 59.7 94.8 83.8 35.2 15.2 49 16.5 66.6 13.9 10.7-1.6 32.8-13.4 37.4-26.4 4.6-13 4.6-24.1 3.2-26.4-1.3-2.5-5-3.9-10.5-6.6z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">WhatsApp: (852) 6818 3861<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"mailto:%20cs@genacct.com\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-envelope\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M502.3 190.8c3.9-3.1 9.7-.2 9.7 4.7V400c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V195.6c0-5 5.7-7.8 9.7-4.7 22.4 17.4 52.1 39.5 154.1 113.6 21.1 15.4 56.7 47.8 92.2 47.6 35.7.3 72-32.8 92.3-47.6 102-74.1 131.6-96.3 154-113.7zM256 320c23.2.4 56.6-29.2 73.4-41.4 132.7-96.3 142.8-104.7 173.4-128.7 5.8-4.5 9.2-11.5 9.2-18.9v-19c0-26.5-21.5-48-48-48H48C21.5 64 0 85.5 0 112v19c0 7.4 3.4 14.3 9.2 18.9 30.6 23.9 40.7 32.4 173.4 128.7 16.8 12.2 50.2 41.8 73.4 41.4z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Email: cs@genacct.com<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fadcd3b elementor-align-left elementor-mobile-align-justify elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"fadcd3b\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/wa.me\/85268183861?text=hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Contact Us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-11c9383 elementor-align-left elementor-widget__width-initial elementor-mobile-align-justify elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"11c9383\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.genacct.com\/en\/taxation\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Tax Filing<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Personal taxation in Hong Kong is divided into three main categories: Salaries Tax, Profits Tax, and Personal Assessment. Self-employed individuals (working independently, without an employment contract, and serving clients in their own name) must pay Profits Tax on business profits. The two-tiered tax rates for unincorporated businesses are 7.5% on the first HKD 2 million [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":27885,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[136,125],"tags":[199,141,138,198,192,185],"class_list":["post-27884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-individual-tax-filing","category-blogs","tag-bir60","tag-business-registration-application","tag-personal-assessment","tag-self-employed-persons","tag-192","tag-185"],"_links":{"self":[{"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/posts\/27884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/comments?post=27884"}],"version-history":[{"count":5,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/posts\/27884\/revisions"}],"predecessor-version":[{"id":27898,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/posts\/27884\/revisions\/27898"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/media\/27885"}],"wp:attachment":[{"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/media?parent=27884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/categories?post=27884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/tags?post=27884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}