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21 Mar '16

4mo

10 Jul '16

10 Jul '16
21 Mar '16

Kiev

7°C

Ukraine

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Has anybody with a Hong Kong company been through an Offshore Profits claim?

in Hong Kong by @prof | 4yr 4 years ago | 23 comments

I’ve just hit the 18-month mark of business in Hong Kong ready to submit by first Profit Tax Return. I also have the option of filing an Offshore Profits claim.

The Offshore Profits claim itself seems to be a convoluted, long drawn-out process with significant costs to bare in working with a certified CPA to answer Inland Revenue Department questioning.

I’d love it if somebody who has been through this already were able to answer the following questions:

How long did it take for the claim to be accepted or denied?
What was the end result?
How much did the IRD dig into each transaction?
How much did you pay your agent to deal with the offshore claim?

Any insights are much appreciated!

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✨ Recommended destinations

This is an algorithmic recommendation based on @mxgrn's trips history to find places they haven't been to yet that other people with similar travels as them also went and liked.

It's great if you're woke, young & artsy. If you're just a regular guy in your 30's with no connections, you'll have a miserable time. Especially during the pandemic. It's not inexpensive and you get offered cocaine every 200 meters in the city center.

⭐️ Overall Score

💵 Cost 😙 Affordable

📡 Internet 🏎 Fast

😀 Fun great

👮 Safety good

Tap to open

🌧 Feels 18° 64° 17° 63°AQI 35

$2,106 / mo

31Mbps

Bangkok

Thailand

Don't believe the prices on here for an apartment. 686 usd/month refers to an apartment in a high class condo, right in the city centre and seconds away from the BTS(train station). Just remember this, people working at supermarkets make 2 usd/per hour. If you want to live like a local, then you can save a lot of money. If you don't mind a 5-10 minute walk from the BTS, then you can easily get a one bedroom apartment for 300 USD per month, in a high class condo, plus with free golf cart ser

⭐️ Overall Score

💵 Cost 😙 Affordable

📡 Internet 🏎 Fast

😀 Fun good

👮 Safety good

Tap to open

🌧 Feels 41° 106° 32° 90°🥵AQI 95😷

$1,415 / mo

27Mbps

Berlin

Germany

Berlin is overall a great city to be. Food is cheap and everywhere, easy to go out and have fun/meet for business. Rent has crept up but still far better value than where I came from. Internet: 36 EUR/month get me 450/40 mbps (cable -> DOCSIS 3.0) Public transport is 2.70 EUR/ticket. No woman I know has said they felt unsafe. Some really odd, xenophobic sounding comments on here. Biggest downsides IMO: service quality at restaurants - not that people are rude, but they don't seem to particular

⭐️ Overall Score

💵 Cost 🙂 Okay

📡 Internet 🏎 Fast

😀 Fun great

👮 Safety mediocre

Tap to open

🌧 Feels 7° 45° 8° 47°AQI 31

$2,987 / mo

34Mbps

London

United Kingdom

How did you guys classified Penge as rich? It is one of the worst neighbourhood I have ever been in London, the ammount of people I know that have been robbed there is appalling.

⭐️ Overall Score

💵 Cost 🧐 Too expensive

📡 Internet 🏎 Fast

😀 Fun great

👮 Safety mediocre

Tap to open

🌦 Feels 6° 43° 7° 45°AQI 26

$4,202 / mo

23Mbps

Prague

Czechia

I visited Prague on more than one occasion and tried something new each time. I really wanted to enjoy it, but unfortunately it turned out to be one of my least favourite cities. Perhaps it was just me, but there was an overwhelming sense of distrust and dislike towards foreigners, you have to try pretty hard to blend in if you want to experience the life of a local & avoid the tourism. I met some wonderful people and and there’s some cool communities to be part of, but another extended stay

⭐️ Overall Score

💵 Cost 😙 Affordable

📡 Internet 🏎 Fast

😀 Fun great

👮 Safety mediocre

Tap to open

🌤 Feels 14° 57° 14° 57°AQI 40

$2,203 / mo

36Mbps

Warsaw

Poland

I already living more than 1 year in Warsaw and i still think it's one of the best cities to live as a nomad as well. there is plenty of meetups to meet other expats, the people are nice, its cheap, its very big and not crowded, and very clean, pros: cheap easy to make international friends , as there is many meetups great public transport plenty of cafes to work from warm and honest locals the cons : Not many nomads, big city so some places far from each other . expensive cowork places (

⭐️ Overall Score

💵 Cost 😙 Affordable

📡 Internet 🏎 Fast

😀 Fun great

👮 Safety mediocre

Tap to open

🌥 Feels 15° 59° 15° 58°AQI 73

$1,820 / mo

35Mbps

Istanbul

Turkey

I spent one year in Istanbul and it's absolutely amazing. The city is really safe, I went back home really late during the night, walking, without any problem. Parties are really fun and there are all kinds of spots to have fun (bars, nightclubs, restaurants...). The city has a lot of cafés to work at and most of them have free and reliable wifi. Definitely recommend!

⭐️ Overall Score

💵 Cost 😙 Affordable

📡 Internet 🙂 Good

😀 Fun good

👮 Safety very bad

Tap to open

☀️ Feels 9° 48° 10° 51°AQI 21

$1,141 / mo

10Mbps

Barcelona

Spain

Lived in Barcelona for a year and a half. I would agree that the weather is perfect and Barcelona does have a great tech scene as well as food and has everything landscape and lifestyle wise that you could think of. Bureaucracy isn't too bad if you nip it in the bu** early and have patience. Also, some clubs are free. (Jamboree!). The metro is also, very efficient with red and purple being the busiest lines. Very walkable city too. Plenty of opportunity to meet people as well. The beaches are ok

⭐️ Overall Score

💵 Cost 🧐 Pricey

📡 Internet 🏎 Fast

😀 Fun great

👮 Safety mediocre

Tap to open

🌧 Feels 16° 61° 16° 60°AQI 45

$3,129 / mo

31Mbps