| 1. |
Does Mitsuba International
use computerized book-keeping? And is the book-keeping process in
a monthly, quarterly, or a yearly basis? 
|
|
| 2. |
It seems a great term
- Mitsuba International's 'Parallel' Accounting Methodology, what
is it? |
|
| 3. |
What should I give to
Mitsuba International, if I would like to have your book-keeping and
accounting services? |
|
| 4. |
What are your terms about
- Tax Representative' and 'Strategic Tax Planning'?
|
|
| 5. |
Must I appoint Mitsuba
International to be my tax representative before using your Strategic Tax Planning services? |
|
| 6. |
I have a Hong Kong incorporated
company but all businesses are carried out not in Hong Kong territory.
Should I liable to pay Hong Kong Tax? |
|
| 7. |
Why must I employ an
auditor? |
|
| 8. |
What is Mitsuba International's
'Vertical' Accounting Solution Methodology about?
|
|
| 9. |
Are Mitsuba International's services
like Accounting Package services, Strategic Tax Planning, and Accounting Solution works, etc. interrelated?
|
|
| |
|
|
| |
|
|
 |
| |
|
|
| 1. |
Does Mitsuba International use computerized
book-keeping? And is the book-keeping process in a monthly, quarterly,
or a yearly basis? |
|
| |
|
|
| A |
Yes. We use accounting
software for data entry and computerized book-keeping. Monthly,
quarterly, or yearly basis is depending on our client's request.
Generally, we suggest monthly basis if there is large volume of business
transactions. We suggest yearly basis if there
are few business transactions. |
|
|
|
| |
|
|
| 2. |
It seems a great term - Mitsuba International's
'Parallel' Accounting Methodology, what is it? |
|
| |
|
|
| A |
Our accounting methodology "Parallel"
is an approach based on consistency and
efficiency. With co-ordination works
with our Strategic Tax Planning, the whole process of our book-keeping,
accounting, and strategic tax planning becomes more efficiency.
We gain a thorough understanding of your business to focus where
risk is the greatest. Our "Parallel" Accounting approach
was created with entrepreneurial and owner-managed clients in mind.
We have commitment to using technology to ensure our book-keeping
and accounting jobs are not only simply tasks
of data-entry and data-categorization, but also cost-efficient and
more effective. |
|
|
|
| |
|
|
| 3. |
What should I give to Mitsuba International, if
I would like to have your book-keeping and accounting services? |
|
| |
|
|
| A |
Original or Copies of the following:
- Bank Statements, Bank Passbooks
- Vouchers and Journal Sheets,
- Business Registration Certificate,
- Invoices, Debit Notes, Receipts, Credit Notes,
- Information of your business transaction, and
- All income and expenses supporting for Accounting works and
Strategic Tax Planning
for your prescribed business period. |
|
|
|
| |
|
|
| 4. |
What are your terms about - 'Tax Representative' and 'Tax Planning'? |
|
| |
|
|
| A |
'Tax Representative' is to fursnish tax computaion, suggest and find out
items for you to
fit into Tax Deduction or Tax Exemption criteria. Moreover,
it concerns and relates to our Tax Planning and accounting
works in 'Parallel' Accounting Methodology.
'Tax Planning' aims to plan
a system in which a company (especially offshore company) operates
in such a way with low-tax burden or even in tax-free paradise by
satisfying tax exemption criteria (tax-free grant is subject to HKIRD finalization). |
|
|
|
| |
|
|
| 5. |
Must I appoint Mitsuba International to be my Tax
Representative before using your Strategic Tax Planning services? |
|
| |
|
|
| A |
Yes. Being your Tax
Representative, we can use our smart professional manner to accurately
calculate your assessable profits tax, estimated provisional tax,
and a variety of tax allowances. |
|
|
|
| |
|
|
| 6. |
I have a Hong Kong incorporated company but all
businesses are carried out not in Hong Kong territory. Should I liable
to pay Hong Kong Tax? |
|
| |
|
|
| A |
Basically Hong Kong charges
tax on any profits "arising in and
derived from Hong Kong" only. This sounds technical and difficult
to understand. If you have such a clear cut situation of doing all
your business out of Hong Kong, the income is then not subject to
Hong Kong tax.
However, you still have to prepare financial
statements and auditors' report. In tax filing, you have to
claim for tax exemption for those income and provide proof. The consideration
of tax exemption or not is on "totality of fact", but no
one single factor will dominate. Therefore, tax planning in advance is very important. Otherwise, you may
have difficulty in getting enough proof to support the tax exemption
claim.
Those proof include:
- business contract is not signed in Hong Kong;
- business contract is not executed in Hong Kong;
- goods is not supplied and sold in Hong Kong;
- business is conducted by director / staff all outside Hong Kong;
We have to remind that tax exemption in Hong Kong means nothing
when you are challenging by another country for tax chargeability.
Therefore, Tax Planning in advance is always advised to minimize
overall tax. |
|
|
|
| |
|
|
| 7. |
Why must I employ an auditor? |
|
| |
|
|
| A |
Auditor is an independent role to conduct audit
works and prepare auditors' report which
is necessary to be submitted to Inland Revenue
Department.
Every limited company in Hong Kong must complete fully and properly
all items in Profits Tax Return together with the following documents:
- a certified true copy of Balance Sheet, Auditor's Report where
required by Hong Kong or foreign Law or has otherwise been prepared
and Profit and Loss Account in respect of the basis period;
- a tax computation with supporting schedules showing how the amount
of Assessable Profits (or Adjusted Loss) has been arrived at; and
- other documents as specified in the Notes and Instructions to Return
|
|
|
|
| |
|
|
| 8. |
What is Mitsuba International's 'Vertical' Accounting Solution
Methodology about? |
|
| |
|
|
| A |
Our accounting solution methodology "Vertical" is an
approach based on assessing risk and leverage
company operation system. We gain a thorough understanding
of your business to focus solution procedures where risk is the greatest.
As no clients are excluded from this process and we use the same solution
approach, we are able to deliver a highly effective scutiny works efficiently.
Our "Vertical" Accounting Solution approach was created with entrepreneurial
and owner-managed clients in mind. We have commitment to using technology
to ensure our solution is not only simply tasks
of data-sorting, but also in-depth data analysis.
|
|
|
|
| |
|
|
| 9. |
Are Mitsuba International's services like Accounting
Package services, Tax Planning, and Accounting Solution works, etc. interrelated? |
|
| |
|
|
| A |
Yes, sure! They are
interrelated and theoretically inseparable
as, for example, Tax Planning would affect the company operation
system in turn changing the accounting system and accounting solution tasks.
If you would like to know more, don't hesitate to send
your problem or enquiry to us, and we will answer you shortly. |
|
| |
|
|
Top