![]() ![]() Therefore, the invoice a writer creates can have multiple lines for different types of work completed. If the writer is performing bulk work, sometimes they offer a discount. A writer can charge a per-blog fee or a bill per word.Consultants who charge per-project fees are able to modify a generalised invoice – but for certain types of freelancers, this format doesn’t quite work. Your hourly invoice is a little different than the usual “products sold” type of invoice because of how you itemise your charges. What Type of Charges Should Be Reflected on Your Invoice Template For Hours Worked? You can opt to not reflect taxes on your invoice and instead incorporate them into your fees, but be sure to set aside about 15% of your earnings to be prepared when tax season hits. Notify the IRD about your change of address within one monthĪdd any other applicable sales tax before you compute the grand total.Notify the Inland Revenue Department (IRD) about the cessation of your business within one month of cessation.fill in and file the tax return (report the business profits and losses).prepare the accounts based on the existing accounting records.maintain the records for seven years or more.There are some basic requirements that you need to follow to ensure that you comply with the Inland Revenue Ordinance (IRO). Unlike other states or countries, HK has a territorial tax regime, meaning that only the income derived from the city is subject to the profits tax. Profits Tax In Hong KongĪs a self-employed person, freelancer, or sole proprietor of a small business, you are liable to profits tax on the assessable profits of your sole proprietorship or partnership business. ![]() Payment terms outline how, when, and with what method your customers or clients provide payment to your business. Payment methods might include checks, bank drafts, debit cards, credit cards, or other online banking solutions. The amount you charge by the hour for that type of task, and how many hours you spend on the task, followed by the total charge for that specific task. Any other tasks undertaken for Hong Kong-based or foreign clients, should also be itemised and added to the invoice in the same manner. creating a database of constituents for a political client). If you’re a virtual assistant, for example, your invoice should reflect the task you perform (i.e. Your hourly invoice also requires a few custom features including: The payable tax amount in Hong Kong Dollar (HKD) (If the business is under sole proprietorship). ![]()
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