Important Notice of HK Inland Revenue Department

Attention all Hong Kong company holders! Starting from April 1, 2023, the Hong Kong Inland Revenue Department will no longer accept 0 returns on tax returns, which need to be submitted together with the audit report.

Hong Kong

Corporate profits tax return

Bulk issued tax return (active) file

Profits tax returns for the year 2020/23 will be issued as a block on 3 April 2023 to corporations and partnerships with an "active" file. For taxpayers who have tax representatives, the deadline for the return of 2020/23 profits tax returns will be extended from the date indicated on page 1 to the following date:

Closing date	The submission date may extended to
Between 1 Apr. 2022 and 30 Nov. 2022 (Closing date「N」type)	No extension
Between 1 Dec. 2022 and 31 Dec. 2022 (Closing date「D」type)	Aug. 15, 2023
Between 1 Jan. 2023 and 31 Mar. 2023 (Closing date「M」type)	Nov. 15, 2023

Financial statements of a corporation

All corporations are required to submit audited financial statements together with their tax returns except:

(a) a company which is inactive under "the Companies Ordinance" (Cap. 622); or

(b) a company whose place of incorporation does not ordinarily require the company's financial statements to be audited and which has not prepared an auditor's report. The financial statements of such cases must be submitted together with a certificate issued by a tax representative in accordance with the following guidelines.

Complete tax returns, supplementary forms, other forms and submit relevant schedules

Except for those cases “financial Statements of corporations” above, all corporations and businesses are required to submit all supporting documents together with the tax return, regardless of the amount of gross interest. Please note that with effect from 1 April 2023, small-business corporations and businesses with a total interest amount not exceeding $2,000,000 are no longer exempt from the submission of supporting documents when filing profits tax returns.

Now is the busy tax season, the Hong Kong companies should take timely and active measures to deal with. If you encounter any situation, welcome to contact us!

If you need any more information, feel free to contact SOLUTIONS. We will be glad to assist you.

SOLUTIONS

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