Modeve ERP allows you to configure tax and compliance settings to meet Hong Kong business requirements. Most settings are managed by your company administrator, but understanding them helps ensure accurate reporting.
Administrators can configure:
Tax Registration Number (Business Registration Number / BR)
Default Tax Rate (e.g., 0% for most local services; configure specific rates if needed)
Tax Type — Hong Kong does not have GST/VAT, but you can set up for profits tax or other obligations
Invoice Numbering Format compliant with IRD requirements
When creating invoices:
Tax field is usually set to 0% by default for most Hong Kong transactions.
You can add line-item taxes if required for specific clients or services.
System supports multiple tax rates if your business has cross-border elements.
Business Registration details stored in Company Settings.
Profit Tax ready reports (P&L export for annual tax filing).
Mandatory Invoice Information — Company name, BR number, issue date, etc.
Audit Trail — All changes to financial records are logged for compliance.
Data Retention — Keep records for at least 7 years as per IRD guidelines.
Always attach receipts/invoices for expenses.
Categorize expenses properly to simplify tax deductions.
Use the export feature to generate reports for your accountant.
When creating invoices or expenses, ensure correct client and project linkage.
Upload supporting documents for every financial transaction.
Review financial reports regularly for accuracy before tax season.
Consult your accountant or tax advisor for specific Profits Tax filing.
Keep Modeve data up-to-date for easy year-end reporting.
Use consistent project and client tagging for better traceability.
For franchised learning centres, maintain clear separation of income and expenses per location.
Important Note: Modeve is a tool to support your operations. Final tax compliance and filings should always be handled by a qualified Hong Kong accountant or tax professional. The system does not provide legal or tax advice.
Need Help?
Contact your company Modeve administrator for tax setting adjustments or report exports needed for compliance.