Zetland Fiduciary Group
Hong Kong is second on the list of countries known for its favourable tax systems, often seen as a tax haven, but it does have its intricacies.
According to the Inland Revenue Department in Hong Kong, the tax system includes three direct taxes and various other levies, each with its own rules and rates.
Furthermore, Hong Kong's tax laws are subject to updates. For instance, it was announced in February 2023 that Hong Kong would adopt Anti-Base Erosion (GloBE) measures starting in 2025. These changes could make Hong Kong's tax regulations more complex and impact top-up tax liabilities.
Given the details and the changing nature, businesses could benefit greatly from experienced tax advisors who know how to optimise tax planning.
Wondering where to find them? This article highlights the top 5 tax advisors in Hong Kong for 2023.
What Are Tax Advisors?
Tax advisors are professionals who offer guidance and support on all tax-related matters.
For example, a tax advisor in Hong Kong can
- Analyse your business structure to provide you with personalised tax solutions and strategies that reduce your overall tax burden and maximise your tax efficiency in Hong Kong.
- Ensure that you meet the statutory tax filing deadlines, complete and check your tax returns, and help you navigate withholding tax in Hong Kong.
- Keep you updated with the latest tax laws and regulations in Hong Kong.
Tax advisors often have backgrounds in accounting, law, or financial planning, and they may collaborate as a multi-disciplinary team of professionals.
5 Best Tax Advisors in Hong Kong in 2023
|Tax Advisor in Hong Kong||Industries Specialty||Presence||Languages|
• Regulated companies
• Financial services
• Real estate And more
|150 countries||English, Cantonese, Mandarin|
• Real estate
• Information technology
• Shipping and airlines
• Financial services And more
|Hong Kong, mainland China, Spain, the UK, Colombia, and Brazil||English, Cantonese, Mandarin, Spanish, Portuguese|
• Real Estate & construction
• Private Equity
• Manufacturing And more
|120 countries||English, Chinese|
• Investment holding
• Real estate
• Business management and consultancy
• Education And more
|112 countries||English, Chinese|
|N/A||Hong Kong, Shanghai, Singapore, and the UK||English, Cantonese, Mandarin, Japanese, Russian, Ukrainian, and Spanish|
🔎 Note: All information provided is dated 17 October 2023 and may have been updated since. Please check each service provider's website for the latest information.
1. PKF Hong Kong
PKF Hong Kong is part of a global network of accounting firms called PKF International, which operates in 150 countries. They have been in the business since 1968, growing alongside Hong Kong's financial development.
Combining worldwide knowledge with local expertise, PKF provides flexible and quality services revolving around auditing and tax advice to clients from Hong Kong, the PRC (People's Republic of China), and other places.
They specialise in construction, licensing, regulated companies, financial services, catering, hospitality, agriculture, healthcare, real estate, charitable institutions, trusts, and government-funded projects.
PKF Hong Kong Tax Services
- Hong Kong, PRC, and international tax compliance services
- Personal and corporate tax computations and returns
- Hong Kong tax due diligence reviews
- Tax structuring
- Supports tax investigation and queries, e.g., prepare replies to IRD’s inquiries
- Risk advisory
- Initial Public Offering (IPO) Services
- Lodgment of Hong Kong offshore claim or tax exemption
- Application for advance ruling
- Tax planning for high net worth individual
How to Contact PKF Hong Kong
You can contact PKF Hong Kong through any of the following channels:
- Website: PKF Contact Form
- Phone: +852 2806-3822
- Fax: +852 2806-3712
- Email: email@example.com
- Office: 26/F, Citicorp Centre, 18 Whitfield Road, Causeway Bay, Hong Kong.
2. CW CPA
CW CPA is a member of Allinial Global, an association of independent accounting and consulting firms.
Their tax professionals with ACCA and HKICPA qualifications bring extensive experience in corporate and personal tax advisory across Hong Kong, Mainland China, and international territories.
They are experienced across diverse sectors, including manufacturing, wholesale, retail, real estate, IT, hospitality, logistics, shipping, airlines, and financial services.
CW CPA has a presence in various locations, including Hong Kong, mainland China, Spain, the UK, Colombia, and Brazil.
CW CPA Tax Services
- Corporate and individual tax compliance support
- Assistance in preparing corporate profits and individual income tax returns
- Advisory support for tax authority’s inquiries
- Tax investigation and field audit support
- M&A tax diligence and structuring
- Certificate of Resident Status in Hong Kong Application - assist in obtaining the necessary certificates for claiming applicable tax benefits under Double Tax Treaties
- Advance ruling application - seek clarity on tax matters from the Inland Revenue Department, subject to their fee
- Tax health check - evaluate exposures, identify errors, inefficiencies, and risk areas
- Explore tax-saving opportunities
How to Contact CW CPA
To reach CW CPA Hong Kong, use any of the following contact options:
- Website: CW CPA Contact Form
- Phone: +852 2956 3798
- Email: firstname.lastname@example.org
- Office: Suites 2111-13, 21/F, Prudential Tower, The Gateway, Harbour City 21 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong.
For those in Mainland China, you can also find CW CPA offices in the Futian District in Shenzhen, the Huangpu District in Shanghai, and the Tianhe District in Guangzhou.
3. RSM Hong Kong
As a part of the RSM, a leading global network of independent audit, tax, and consulting firms spanning 120 countries, RSM Hong Kong holds a prominent position as a leading accounting and consulting firm in Hong Kong.
Regarding tax services, they specialise in Hong Kong, PRC, US, and international tax for individuals and companies of all sizes.
The service includes audit and assurance, taxation, risk advisory, technology and management consulting, transaction advisory, corporate advisory, and financial reporting advisory.
RSM Hong Kong Tax Services
- Advising on tax-efficient business structures
- Personal income tax advisory and efficient compensation structuring
- Negotiating with the IRD in tax investigations and field audits
- Handling tax exemption claims and resolving IRD disputes
- Formulating tax strategies for investments, restructuring, and M&A
- Conducting tax due diligence for M&A transactions
- Reviewing and planning tax provisions for Pre-initial Public Offering
How to Contact RSM Hong Kong
For inquiries with RSM Hong Kong, you have these contact options:
- Website: RSM Hong Kong Contact Form
- Phone: +852 2598 5123
- Office: 29th Floor, Lee Garden Two, 28 Yun Ping Road, Causeway Bay, Hong Kong
4. 3E Accounting
3E Accounting is a Hong Kong-based firm that specialises in offering professional services such as accounting, tax, and compliance support tailored to startups and small-to-medium-sized businesses.
The firm serves a wide array of industries, including automobile, chemical, investment holding, real estate, business management and consultancy, telecommunication, construction, manufacturing, healthcare, and education and training, among others.
3E Accounting has 156 offices across 113 countries.
3E Accounting Tax Services
- Hong Kong corporate tax compliance services
- Hong Kong Resident Status Application for claiming tax benefits under Double Taxation Arrangements
- Offshore corporate tax exemption claim
- Submission of Notification of Commencement of Business and Change of Business Particulars to the Hong Kong Inland Revenue Department (IRD)
- Withholding tax services for non-resident individuals and businesses
How to Contact 3E Accounting
To get in touch with 3E accounting, you can use these communication channels:
- Website: 3E Accounting Contact Form
- Phone: +852 3703 8500
- Email: email@example.com
- Office: 2/F., Tern Centre, Tower 1, 237 Queen’s Road Central, Hong Kong
5. Zetland Fiduciary Group
Zetland Fiduciary Group, headquartered in Hong Kong, offers personalised business consultancy services in company establishment, trust management, accounting, taxation, and more.
In terms of taxation, they focus on Hong Kong, the US, the UK, Australia, China and Singapore taxation issues. They also aim to provide a one-stop solution for both individual and corporate tax needs, including tax planning for business structures, compliance, cross-border issues, exit strategies, and advisory services.
Their team consists of experienced professionals, including certified attorneys, accountants, and tax experts.
Zetland Fiduciary Group has offices in the Central District in Hong Kong, Shanghai in China, International Plaza in Singapore, and London in the UK.
Zetland Fiduciary Group Tax Services
- Corporate tax services
- Strategic guidance for multinational tax planning
- Support for reorganisations and restructuring
- Planning recommendations tailored for owner-managed enterprises
- Comprehensive advice on corporate and general taxation matters
- Strategies for profit extraction, encompassing dividend policies
- Competent authority discussions and negotiations
- Guidance on income source assessment
How to Contact Zetland Fiduciary Group
To communicate with Zetland Fiduciary Group, you can use any of these provided contact channels:
- Website: Zetland Fiduciary Group Contact Form
- Phone: +852 5808 0180
- Fax: +852 2140 6833
- Email: firstname.lastname@example.org
- Office: 8/F, On Hing Building, 1 On Hing Terrace, Central, Hong Kong
What to Consider When Selecting Tax Advisors
To make the best choice when selecting a tax advisor, consider these key factors.
Qualifications and Expertise
The first criterion is to seek a qualified tax advisor who holds the appropriate licenses and certifications.
In Hong Kong, you should look for:
- A certificate from the Hong Kong Institute of Certified Public Accountants (HKICPA), an authority responsible for training, developing, and regulating certified public accountants in Hong Kong.
To check whether an advisor is HKICPA certificated, you may use the Find a CPA webpage from the Hong Kong Institute of Certified Public Accountants website.
- Chartered Tax Advisors (CTA), granted by the Taxation Institute of Hong Kong (TIHK). You can check from the Chartered Tax Adviser Register Page on the Taxation Institute of Hong Kong’s website.
Fees and Cost Structure
It's prudent to understand tax advisors’ fee structure, ensuring that it resonates with your budget.
Three common fees and cost structures include:
- Hourly rates: The tax advisor charges a fixed rate per hour of work performed. This may be suitable for straightforward tasks, such as preparing a basic tax return or answering a few questions.
- Flat fees: The tax advisor charges a fixed amount for a specific service or project, regardless of the time spent or complexity involved. This may be suitable for more complex tasks, such as conducting a tax audit or developing a long-term tax strategy.
- Contingency fees: The tax advisor charges a percentage of the savings or benefits that the client obtains from the service or outcome. This may be suitable for cases where the outcome is uncertain, such as resolving a tax dispute or claiming a refund.
To avoid disputes over fees, ask for a written quotation and agreement that specify the following information:
- The type and scope of service
- The estimated time and cost involved
- The payment terms and conditions
- Any additional fees for extra services
Tax regulations and implications can vary significantly between sectors. Therefore, having a tax advisor with in-depth knowledge of your industry, along with awareness of the latest trends that could impact taxation, is crucial.
For instance, a real estate business has to closely monitor property taxes and regulations more than any other type of business, or a technology company may need to pay special attention to patent-related taxes.
Range of Services
For a well-rounded tax experience, choose advisors with a comprehensive service offering.
The ideal advisor covers all aspects of taxation, from compliance to planning and representation, under one roof.
A tax advisor’s range of services should include these three fundamentals.
- Tax compliance - The tax advisor ensures that you meet all tax duties and timelines, such as reporting income and expenses, filing tax returns, paying taxes, etc.
- Tax planning - The tax advisor helps you plan and implement strategies to reduce tax burdens and maximise benefits, such as claiming tax deductions.
- Tax advisory - The tax advisor provides guidance on tax implications in business moves, from mergers to cross-border activities.
In terms of communication, there are three aspects to contemplate.
- Language Proficiency - For a business in Hong Kong, an advisor fluent in Cantonese, Mandarin, and English is a necessity to ensure they can effectively communicate with the Hong Kong authority. The tax advisor should also speak the same language as you or be able to communicate with you.
- Communication Channels - Advisors should adapt to the client’s most accessible medium of communication, whether it is phone calls, emails, text, etc.
- Communication Hours - If your business operates across different time zones or you frequently travel, having an advisor available in your preferred time zone or one who offers flexible scheduling is essential.
In conclusion, we've spotlighted the top 5 tax advisors in Hong Kong for 2023, including PKF Hong Kong, CW CPA, RSM Hong Kong, 3E Accounting, and Zetland Fiduciary Group.
When choosing, it's important to consider their qualifications, industry knowledge, range of services, and communication capability.
Lastly, it's always beneficial to delve deeper and reach out to these professionals for tailored advice, ensuring their service is compatible with your Hong Kong business needs.
What is a tax advisor?
Who is the best person to get tax advice from?
Which are the best tax advisors in Hong Kong?