With the compliance environment becoming stringent, companies are required to comply and meet the statutory filing requirements within a given time as prescribed by the authorities in the respective jurisdictions.
Aptus Prime work with clients in helping to meet the statutory filing requirements of their companies such as preparation of management accounts, assistance in audit, filing of annual returns and compliance with the payment of annual government fees related to the respective jurisdictions. In addition, we also provide various administrative services including but not limited to trade support services, payment processing and assistance in employment visa application.
Hong Kong companies must maintain accounting records and returns for 7 years after the end of the financial year. The financial statements are required to be audited, which have to be filed with the company’s Profits tax return.
Singapore companies (unless exempted) are required to file a full set of financial statements with Accounting and Corporate Regulatory Authority. Business records and accounts are required to be kept for a period of at least five years.
Hong Kong is a major trading and financial services centre and offers some of the lowest or no corporate tax rates in Asia on trading and commission income. Hong Kong companies serve well for re-invoicing operations and for businesses involved in international trade. With an extensive double tax treaty network it provides good tax advantages to international companies.
Trademarks and Patents offer protection for owners of Intellectual Property (IP). IP covers a widerange of intangibles including Copyrights, which comprises literary, musical and scientific works, publications and software programmes; Patented inventions and Trademarks.
IP can be one of the most valuable assets of an organisation. Electing the right location for the centralisation and management of IP is a very important business decision.
Hong Kong and Singapore have extensive double tax treaty network, which can be used for tax optimisation of the income from intellectual property rights.
