6. If I have not appointed any accountant to handle my company's taxation matters, are there any calculation aids available to help me compute the "assessable profits"?

6. If I have not appointed any accountant to handle my company's taxation matters, are there any calculation aids available to help me compute the "assessable profits"?

The "assessable profits" are the net profits (or losses) for the basis period, arising in or derived from Hong Kong and calculated in accordance with the Inland Revenue Ordinance.

The Inland Revenue Department has provided samples of Proforma Tax Computation Form (Form IR 957A(e))(for sole-proprietorship business), and Pro forma Profits Tax Computation Form (Form IR957) (for partnership business). You may use these forms to make the necessary adjustments to your net profit in your accounts in order to arrive at the amount of profit you will be assessed on.

If you have further queries about the computation method, please seek professional advice from a certified accountant or professional tax advisor.