Section 51C of the Inland Revenue Ordinance requires every person carrying on a trade, profession or business in Hong Kong to keep sufficient records in the English or Chinese language of his income and expenditure to enable the assessable profits to be readily ascertained.

Such records shall be retained for a period of not less than 7 years.

Failure to comply with the requirements of the Ordinance without reasonable excuse may be liable to a maximum fine of HK$100,000.

Our firm offers outsourced accounting service to your company.

  • All books and ledgers are prepared by Fellow Practising Certified Public Accountant who has more than 20 years of accounting and audit practical experience
  • All books and ledgers are recorded and kept by professional accounting software (no extra fee charged)
  • Standardized service fee of HK$15,000 per annum for annual business turnover below HK$3 million (regardless of number of transactions and no other hidden costs)
  • Financial statements can be prepared on monthly, quarterly or yearly basis, upon request