Profits tax is not payable in the following two cases:

1. Zero declaration

Zero declaration can only be made by qualified companies, such as: the company has not yet operated, the bank has no record of running away, and has not purchased any real estate in Hong Kong. Only those who meet the specified requirements can make a zero declaration in the fiscal year, that is, actually fill in the zero in the business column of the tax bill and apply to the Hong Kong government for exemption from accounting, auditing and tax payment. However, it should be noted that the Hong Kong Inland Revenue Department has the right to review the company accounts within seven years. If it is found that the company does not meet the zero declaration conditions, it will be regarded as tax evasion and the consequences will be very serious.

2. Offshore immunity

It means that your company's income and business are not from Hong Kong, so you can get tax exemption by applying for offshore tax exemption. The tax legal system of offshore companies means that all income from local operations is offshore income, so it can be exempted by applying for tax exemption. If it is a Hong Kong company, it needs to be verified to prove the correctness of its legal income source before it can be exempted from tax.

The above answer is that there is no need to pay profits tax. I hope I can help you.