Have to provide accounts to the tax authority of the jurisdiction in which it is incorporated
Many jurisdictions do not require financial reporting or auditing. Learn all about our accounting and auditing services with company set up here. However, in certain jurisdictions, such as Hong Kong, Cyrpus, Singapore and the UK for example, it is indeed mandatory for companies to produce yearly accounts and to have them audited, and in some cases, to pay taxes.
Aunque una empresa puede no estar sujeta a la presentación de informes fiscales a sus autoridades locales, debe consultar a su propio asesor fiscal, legal o contable para determinar si usted o su empresa tienen alguna obligación de informar en otras jurisdicciones, incluida la jurisdicción en la que es residente fiscal.
NB: it is possible that under FATCA or CRS regimes, most of the offshore jurisdictions may report information about their offshore companies (and the company’s bank accounts) to the relevant home country tax authorities.