Important Notice: Timely Receipt of Hong Kong Inland Revenue Department (IRD) Profits Tax Return and Preparation for On-Time Filing

Posted by City AI Accounting on 2025-02-26 | Featured

Important Notice: Timely Receipt of Hong Kong Inland Revenue Department (IRD) Profits Tax Return and Preparation for On-Time Filing

For Hong Kong companies, the annual profits tax return is a crucial tax compliance process. According to the Hong Kong Inland Revenue Department (IRD) practice, profits tax returns are usually issued around April each year. Companies must submit their profits tax returns within the specified timeframe. Failure to comply may result in penalty notices or court summonses from the IRD, which can lead to serious legal consequences.

「⚠️ Key Points to Note」

1. Timely Receipt of Profits Tax Return

Hong Kong companies should pay attention to receiving the profits tax return notification starting from April. Ensure your communication address is correct to receive the official profits tax return without delay.

2. Adequate Preparation of Tax Documents

oPrepare the financial statements for the tax year, including income, expenses, profit, and other relevant financial records to ensure accurate filing.

3. On-Time Submission of Profits Tax Return

Companies must submit the audited financial statements and profits tax return to the IRD within three months of receiving the tax return. Failure to meet the deadline may result in penalties or legal proceedings.

4. Filing Requirement for Dormant Companies

Even if a company has no business activities during the tax year, it is still required to submit the profits tax return to the IRD to maintain compliance.

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Other Information

Is Accounting, Auditing, and Tax Filing Required for a Dormant Hong Kong Company Upon Receiving a Profits Tax Return?

What to Do If You Haven’t Done Annual Audits?

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