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Annual Tax Return Submission to Inland Revenue Department
In Hong Kong, both locally incorporated and foreign companies (an incorporated subsidiary or registered branch) are required to file annual return with the Inland Revenue Department (“IRD”).
The Annual Filing Requirements of a Hong Kong Private Limited Company
Filing of Annual Tax Return with Inland Revenue Department (IRD)
a. What is it?
Hong Kong Company’s law has stipulated that every company incorporated in Hong Kong, must file a Tax Return (it is also known as Profits Tax Return in Hong Kong) together with its audited accounts on a yearly basis with the Inland Revenue Department of Hong Kong (“IRD”).
b. Prescribed Time Period
IRD will issue Tax Return filing notifications to companies on the 1st of April every year. For the newly incorporated companies, they will be notified on the 18th month of the incorporation date. Companies are mandated to file their Tax Return within one month from the date of notification. Companies can request for a submission extension (if needed).
Normal Filing Time
Generally, profits tax return and any required supplementary forms should be filed within 1 month from the date of issue. The compliance date of submission is specified on page 1 of the profits tax return.
Further Extension for using Electronic Filing
To promote electronic filing, IRD will grant, on the application, a further extension of 2 weeks after the normal due date subject to the condition that Small Corporations and Small Partnership Businesses will file the profits tax returns through the Internet.
Block Extension Scheme for Lodgement of 2018/19 Tax Returns
If your tax representative has duly applied for an extension to file your 2018/19 profits tax return under the Block Extension Scheme, the due date is normally extended as follows:
| Accounting Date | Extended Due Date | Electronic Filing Extended Due Date |
| For N Code Returns (Accounting Date between 1 April to 30 November) | No extension (Due date 2 May 2019) | 16 May 2019 |
| For D Code Returns (Accounting Date between 1 to 31 December) | 15 August 2019 | 29 August 2019 |
| For M Code Returns (Accounting Date between 1 January to 31 March) | 15 November 2019 | 29 November 2019 |
| For M Code Returns and Current Year Loss Cases | 31 January 2020 | 31 January 2020 |
c. Late Submission
Late submission (failure to adhere to the deadline) means you might face the penalty in the form of penalty fines or even prosecution.
d. Supporting Documents Needed
- The company’s balance sheet,
- Auditor’s report
- Profit & Loss Account relating to the basis period
- A tax computation that indicates how the amount of assessable of profits (or adjusted losses) was done
3E Accounting will help you to take care of all the statutory annual filings where we will remind you in advance before the due dates. Long story short, we help you to stay compliant with the on-going compliance requirements in Hong Kong.
