Raymond Yeung Tax Consultant former Assessor of Inland Revenue Department 前稅局評稅主任楊輝洪

飛鴻稅務顧問  Qualifications   出版書目  

Tel /WhatsApp /WeChat 94735846  *email: yeungfhr@qq.com  

Service charge $500/hr *Hang Seng Bank Account: 385 599279 883 *Payment thru mobile phone: PayMe / FPS轉數快 Yeung Fai Hung *會面:上水廣場5樓太興餐廰  *報稅分析 *稅務咨詢 *記帳系統 *業務報稅 *稅務課程

 

Basis Period  -  Commencement of business

The day of business commencement declared by the business owner upon registration of business is usually adopted without queries. However, in some cases involving disputes, it is not easy to determine the exact day of business commencement. Indeed this is largely a question of facts. In general, a retailer starts to trade when goods are first offered for sale. A manufacturer starts trading when the manufacturing begins. A property developer starts trading when he first enters into a project of property development by taking such steps as appointment of an architect to draw up the development plan. 

The date of business commencement may affect the deductibility of expenses. Although by accounting principle all expenditures to set up a business should be capitalized, the Revenue may by concession allow deduction for revenue expenditure such as rent and staff wages before the business commencement. 

Section 18C of Inland Revenue Ordinance deals with the basis period for business commencement. As a basic principle, the basis periods throughout the business life should start from the date of commencement to the date of cessation. Normally, if business account is made on a 12-months basis, the first basis period is the first accounting year. Otherwise, there are special provisions.

Read the following examples to see how profits are assessed on business commencement. 

Example A: First business accounts cover 12-months

Example B: First business accounts cover 6 months

Example C: First business accounts cover 18 months

 

楊輝洪 Raymond Yeung 為你提供:

 

* 稅務顧問服務 * 飛鴻作品下載 * 寫好英文信件 * 基礎法律知識 * 實用稅務課程 * 英文速成課程 * 見工英語速成 * 中英文寫作服務 * 電腦會計記帳系統

 

 

email: yeungfhr@qq.com

Tel /WhatsApp 94735846

 

 

My Performance Pledge QEEP

My Curriculum Vitae/resume

Value for Money, for sure!

Why you must own my CDR 

Why my service fee is so low

 

 

 

 

香港稅務課程 Practical Taxation Course

教授實用税務及報稅知識

Private tuition of Hong Kong Taxation of Law and Practice

$900 兩小時,單對單教授,:香港稅務知識加強版香港報稅軟體

報讀者可在一年內免費電話咨詢一次  詳情按此