Are all Hong Kong companies required to prepare a financial statement annually?

The director of the Hong Kong is/are also required to prepare annual financial statements and arranged to have such audited financial statement at every annual general shareholder meeting to be held within 9 months from the end of the accounting period covered by the audited accounts.

A director who willfully fails to take all necessary steps to ensure compliance with commits a offence and potential liable to a fine of HK$ 300,000 and to imprisonment for 12 months.

If a private company has a business in Hong Kong, it will need to file annual profits tax return with the Inland Revenue Department. An audited financial statement is also required to be filed with the profits tax return.

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