Under section 51C of the Inland Revenue Ordinance, every person carrying on a trade, profession or business in Hong Kong is required to keep sufficient records in English or Chinese of his income and expenses so that the assessable profits of the trade, profession or business can be easily determined and to keep such records for a period of at least 7 years after the completion of the transactions, acts or operations to which the record relates. Failure to comply with the requirements of the Inland Revenue Ordinance without reasonable excuse is punishable by a fine of up to a maximum amount of HKD100,000. The records set out in the Inland Revenue Ordinance include books of accounts, vouchers, bank statements, invoices and receipts for recording income and payments; Records of assets and liabilities; Records of operating inventories held on the closing date of the year, etc.
Enterprises will be entrusted to professional accounting bookkeeping, companies of both cost savings, but also to obtain compliance with accounting standards financial statements.
Meanwhile, professionals in the relevant data analysis and recommendations to help improve standards of corporate governance and profitability. With team of senior accounting staff with good ethics, a strong account management skill, through a deep understanding of customer business, in compliance with the relevant accounting standards under the premise of the design and implementation of best accounting service solutions, Tripital could help customers to remove the worries, the savings in operating costs at the same time, to get sufficient time to focus on business development.
Our accounting services include:
- Agent bookkeeping
- Set up an accounting system
- Preparation of financial statements, including balance sheet, income statement
- Calculate assessable profits or losses
- Inventory management
- Cost management
- Establish an internal accounting audit system
- Arrange for the audit of practicing auditors on behalf of you