Financial Statements Audit and File with Inland Revenue Department (IRD)

Financial Statements Audit and File with Inland Revenue Department (IRD) | Bestar

Financial Statements Audit and File with Inland Revenue Department (IRD)

Every Hong Kong limited company must have its annual financial statements audited by an independent, licensed Certified Public Accountant (CPA) and file these with the Inland Revenue Department (IRD). Notably, Hong Kong does not have a Value-Added Tax (VAT) or Goods and Services Tax (GST). 

When looking for audit and tax (Profits Tax) services in Hong Kong, you can explore well-regarded Bestar Hong Kong regardless of your business size:

• SMEs and Startups: Bestar Hong Kong offers streamlined, digital-first audit packages and corporate tax filing support.

  
  

• Corporate & Expansion Advisory: International firm Bestar Hong Kong provides robust tax planning, statutory compliance, and global value chain optimization.

  
  

• Large Enterprises: Bestar Hong Kong accounting firm provides comprehensive tax controversy, structuring, and assurance services. 

Bestar Hong Kong is indeed a specialized, one-stop professional corporate service provider capable of servicing companies of all sizes, bridging the gap between local bookkeeping firms and the Big Four. 

As a licensed Trust or Company Service Provider (TCSP) and an established accounting firm, we provide a flexible operational framework across different business stages: 

SMEs and Startups

• Digital Onboarding: We offer fully remote onboarding, eliminating physical paperwork through proprietary tools like BestSign. 

  
  

• Integrated Packages: We eliminate data gaps by combining monthly bookkeeping, payroll, and corporate tax calculation in a single platform. 

  
  

• Tax Alignment: We coordinate the direct submission of audited accounts and Profits Tax Returns (PTR) to the Inland Revenue Department (IRD). 

Corporate & Expansion Advisory

• Statutory Compliance: Bestar's CPAs handle independent, mandatory annual statutory audits under the Hong Kong Standards on Auditing (HKSAs). 

  
  

• Cross-Border Setup: We provide structuring guidance for international businesses establishing corporate subsidiaries or using Hong Kong as a gateway to mainland China. 

  
  

• Ancillary Support: We handle crucial regional compliance items, including managing statutory registers and acting as the official local Corporate Secretary. 

Large Enterprises & Risk Management

• AI-Driven Audit Readiness: With the IRD expanding its use of AI-driven tax assessments, Bestar implements a strict Risk-Based Audit Approach to secure data integrity and protect complex businesses against deep tax investigations. 

  
  

• Corporate Finance & Valuations: For mature businesses, we offer strategic advisory covering mergers and acquisitions (M&A), due diligence, and company valuations. 

Location and Contact Details

If you intend to visit or contact our office directly, we are centrally located in the Sheung Wan financial district: 

• Address: Flat D, 20/F, Eton Building, 288 Des Voeux Road Central, Sheung Wan, Hong Kong

• Phone: +852 3565 1861

• Hours: Monday to Friday, 9:00 AM – 6:00 PM (Closed Saturdays & Sundays) 

Bookkeeping and company secretarial support Bestar Hong Kong

Bestar Hong Kong operates as a fully licensed Trust and Company Service Provider (TCSP License No. TC004125), making us legally authorized to handle both statutory corporate secretarial duties and operational bookkeeping in Hong Kong. 

By handling bookkeeping and company secretarial tasks under one roof, we eliminate data gaps, ensuring that annual filings align perfectly with audited numbers. 

1. Bookkeeping & Accounting Support

Bestar transitions companies away from traditional shoe-box accounting toward digital ledgers. We specialize in cloud-based transaction mapping tailored to Hong Kong Financial Reporting Standards (HKFRS). 

Core Deliverables

• Transaction Recording: Daily or monthly data entry of incoming sales invoices, purchase bills, and vendor receipts. 

  
  

• Multi-Currency Bank Reconciliation: Reconciling dynamic accounts against local and international bank feeds (e.g., traditional banks or neobanks like Airwallex and Aspire). 

  
  

• Management Reports: Issuing standard financial statements, including Profit & Loss accounts, Balance Sheets, and general ledgers needed for upcoming audits. 

  
  

• Accounts Receivable/Payable Tracking: Monitoring aged debt logs and processing ongoing supplier payments. 

Pricing

Bestar benchmarks bookkeeping pricing based on monthly transaction volume: 

• Micro-volume / Startups: Starts from approximately HKD 3,500 per financial year for low transaction volumes.

  
  

• Active SMEs: Ranges between HKD 1,000 to HKD 5,000 per month, depending on ledger line items, asset counts, and complex inventory management. 

2. Company Secretarial Support

Under the Hong Kong Companies Ordinance, every private limited company must appoint a resident or licensed corporate body as its official Company Secretary. Bestar acts as this named statutory officer. 

Core Deliverables

• Statutory Officer Appointment: Acting as your named Company Secretary to maintain compliance with the Hong Kong Companies Registry. 

  
  

• Annual Return Maintenance: Preparing and filing the Annual Return (Form NAR1) within 42 days of the company's incorporation anniversary. 

  
  

• Statutory Registers: Managing the Significant Controllers Register (SCR) and Designated Representative role to meet strict anti-money laundering regulations. 

  
  

• Corporate Updates: Drafting board resolutions for structural changes, including altering share capital, renaming the company, or executing a change of directors. 

Package Pricing

• Corporate Secretary Service: HKD 2,100 / year (Includes statutory filings and routine resolutions).

  
  

• Registered Office Address: HKD 1,800 / year (Provides a corporate address in Sheung Wan for official government correspondence, immediate mail scanning, and dashboard updates).

  
  

• Switching Fee: If you are migrating your secretarial infrastructure away from another local agency, Bestar charges a flat HKD 500 setup fee to draft the transition resolutions and file the official Form ND2A. 

Note: Bestar offers a Transparent Pricing Guarantee. If you present a lower valid fee quote from another licensed TCSP provider, Bestar will match that rate to ensure competitive value. 

Would you like a formal transition or onboarding to Bestar to hand over your existing bookkeeping ledgers, or do you need help calculating your upcoming Companies Registry and government renewal fees?

If you are currently setting up your financials, let us know:

• Is your company an SME or a large enterprise?

• What documents do you currently have prepared (e.g., trial balance, income statement)?

  
  

We can better refine the services or connect you with the right local resources!

For financial advice, consult Bestar.