Tax Services

Under the OECD guidance, the worldwide tax authorities are cooperating with each other to increase transparency by exchanging financial information of their taxpayers. We see the trend from primarily dealing with Hong Kong tax issues with Inland Revenue Department in the past to extending our services to international tax level for our listed and multi-national clients.

Global tax authorities are now more eager to impose tax on non-resident companies, no matter via permanent establishment (PE), Controlled Foreign Corporation (CFC), transfer pricing, diverted profit tax, etc. We recognize the increasing need for our client to consider tax issues in cross-border transactions and arrangements.

To cater for our client’s needs, we have developed our international tax team and are experienced in handling tax group structuring and transfer pricing tax planning as well as documentation. We helped our client on tax planning to reduce their international tax burden and tax risk as well as on tax challenges proposed by the tax authorities.

China is definitely one of the jurisdictions which have close business relationship with Hong Kong companies. Our PRC tax team can advise client on their PRC tax exposure as well as cross-border transactions and arrangements between Hong Kong and the PRC.

We acknowledge that clients are actively approaching tax advisors to understand taxpayers’ responsibilities from tax perspective and exploring for future tax planning opportunities to minimize possible tax risks. We, a specialized tax team with professionals experienced in wide range of taxation areas, can assist you in the following areas:

1. Hong Kong Taxation Services
   • Hong Kong Tax (i.e. Profits Tax, Salaries Tax and Property Tax) advisory
   • Hong Kong Tax compliance (i.e. filing of Returns and handling enquiry letter from the Tax Authority)
   • Transfer Pricing advisory and documentation (i.e. Master File, Local File, Country-by-Country Reporting and Benchmarking Report)
   • IPO Tax advisory (Pre-IPO restructuring and tax opinion expert)*
   • Hong Kong Tax Resident advisory, application of Certificate of Tax Resident Status (Corporate and Individual) and other supporting services (e.g. work visa application)
   • Field Audit and Investigation


2. Cross-Border Taxation Services
   • PRC Tax advisory and planning
   • Transfer Pricing advisory and documentation (i.e. Master File, Local File, Country-by-Country Reporting and Benchmarking Report)
   • International Tax advisory and planning
   • Tax advisory for IPO purpose*

By CHENG & CHENG TAXATION SERVICES LIMITED