Zetland Tax
ZETLAND TAX
Zetland Tax Advisors helps businesses and individuals meet their tax compliance obligations and plan efficiently across Hong Kong, the United States, the United Kingdom, mainland China, Singapore, and cross-border structures.
The following sections summarise our service scope in each jurisdiction and how we support corporate and personal tax returns, offshore claims, visa matters, and international tax planning together with the wider Zetland group.
Zetland Tax
Zetland Tax Advisors Limited (“Zetland Tax”) is a member firm of the Zetland Fiduciary Group. At Zetland Tax, we are a team of energetic tax professionals to assist you with your tax obligations and tax planning solutions. Below is a brief summary of what we do. We also provide tailor-made advice and services according to your needs.
For more information, please email us at tax@zetland.biz or call our Hong Kong office +852 3552 9084
Hong Kong
Hong Kong adopts a territorial source principle of taxation. Only income or profits which have a source in Hong Kong are taxable. The principle itself is very clear but its application in particular cases can be, at times, contentious.
Taxation Services for Individuals
We offer extensive assistance in relation to our clients’ needs to file their Hong Kong individual tax returns. We also prepare property tax returns and sole trader accounts.
In addition, we also offer assistance on time apportionment claims for expatriates, as well as liaising with the Inland Revenue Department on their enquiries to substantiate the claim.
Taxation Services for Corporations
Employer’s Return
Employers in Hong Kong are obliged to file annual returns of salaries and commissions paid and also notify the authorities when an employee is about to leave the territory. We can supply administrative help or full payroll systems through our sister company Gemini Personnel Limited.
Profits Tax Return filing and advisory services
We adopt a tailored, risk-focused approach to help you manage your corporate tax compliance obligations. Our tax professionals can help to identify the best ways to reduce your tax charges within the framework of the relevant tax legislation, and deliver services to deal efficiently and effectively with your tax concerns, such as preparation of Profits Tax returns, and assisting in responding and managing queries from the tax authorities.
Offshore claim for Hong Kong Company
We can assist to review the current operations for your company and ascertain any possibility for an offshore claim. Based on the offshore nature of the profits, we can assist to claim tax exemption and argue the position with the Hong Kong Inland Revenue Department so as to substantiate to them that the claim is valid and appropriate.
Employment Visa Application
Zetland Tax offers professional Hong Kong visa and immigration services for all types of Hong Kong visa of individuals and expatriates. We are experienced in dealing with Hong Kong Employment Visa Application (or known as working visa/ work permit), Extension of visa (visa renewal), and a Hong Kong Permanent Identity Card Application. Our team has the skill set to process your visa in a professional and timely manner.
United States
The United States of America is a federal republic with autonomous states and local governments. Taxes are imposed in the United States at each of these levels. These include taxes on income, property, sales, capital gains, estates and gifts, as well as various fees.
Taxes are imposed on net income of individuals and business entities by the federal, most states, and some local governments.
Citizens and residents are taxed on worldwide income and allowed a credit for foreign taxes. Income subject to tax is determined under tax accounting rules, not financial accounting principles, but includes almost all income from whatever sources. Most business expenses reduce taxable income, though limits apply to a few expenses. Individuals are permitted to reduce taxable income by personal allowances and certain nonbusiness expenses, including home mortgage interest, state and local taxes, charitable contributions, and medical and certain other expenses incurred above certain percentages of income. State rules for determining taxable income often differ from federal rules. Federal tax rates vary from 10% to 39.6% of taxable income. State and local tax rates vary widely by jurisdiction, from 0% to 13.30% of income, and many are graduated. State taxes are generally treated as a deductible expense for federal tax computation.
At Zetland Tax, we offer an extensive range of compliance and advisory services. We help our clients (as individual or as corporate entity) achieve tax efficiency in their US inbound and outbound operations on transactions involving the US. We provide practical tax advice on establishing new ventures, structuring overseas transactions, and maintaining compliance with tax regulations.
Our US tax professionals can also assist clients in building global competitive advantage through tax-effective structuring of their international business operations.
United Kingdom
With the ever increasing complexity of taxation in the United Kingdom and the penalties for noncompliance, individuals are increasingly affected by taxation on earnings and investments.
At Zetland Tax, our services ensure that you understand both your tax obligations and the options you have for future change.
Tax Returns
For businesses, we can take care of the administration of complying with tax legislation, including preparing and submitting your corporation tax Self Assessment returns. Self Assessment tax returns are also increasingly being requested from individuals who are working overseas but have a reporting obligation in the UK because of their respective circumstances. We can help preparing your Self Assessment tax returns, including all relevant income such as any business profits or rental revenues. We can determine the information required to accurately complete the tax return, including computing capital gains and inheritance tax liabilities where appropriate.
Tax Advice
Our expertise in the areas of both business and personal taxation issues enables us to provide our clients with valuable tax advice.
Corporate & business tax will represent a substantial cost to any profitable business, not only in terms of the tax itself but also in compliance with reporting obligations, investigations with tax authorities and penalties for non-compliance. Our tax advice can help you to minimize your corporation tax payments and relieve you of any administrative burden of complying with tax legislation.
Our advice would also be beneficial for individuals. Whether you have a straightforward query, or have a complex investment portfolio, we can provide you with tax advice to minimize your tax liability and maximize your returns.
People’s Republic of China
China is one of the biggest markets in the world and is attracting more and more global investors into the China market. In order to run the business in a most cost efficient way, it is necessary for the foreign investors to understand all the potential relevant tax costs that would be incurred in China before making an investment decision. In addition, different type of investment activities will trigger different types of taxes.
Individuals contemplating employment in China need to be aware of the complexity of the tax system and the opportunities to reduce tax costs.
Zetland Tax, through our local office in Shanghai, will be able to assist you with meeting your compliance needs in the PRC and also to advise your investment structures so as to achieve tax efficiency.
Singapore
Zetland Tax, through our local office in Singapore, is able to assist you with your questions regarding your tax obligations in Singapore and fulfilling your tax compliance needs.
International tax planning
At Zetland Tax, we can assist in international tax planning to ensure that structures are tax efficient in terms of utilizing double taxation treaties to minimize taxation of interest, dividends, and royalties. Our sister companies can provide offshore companies in tax efficient jurisdictions and holding structures such as trusts or foundations. We do not believe in providing “off the shelf” solutions and will always carefully consider a client’s needs before suggesting a plan.