The profits tax filing season sent with the bulk issuance of the 2023/23 profit tax returns on 3rd April 2023.
Dates for filing the 2022/23 Profit Tax Returns
If you would like for extension for tax filing, you have to send your application within 1 month from the date of issue. The extended due dates for filing the 2022/23 profits tax returns under the Block Extension Scheme (i.e. for taxpayers with a tax representative) are as follows:
|Accounting Date Code||Extended Due Date||Further Extended Due Date for Semi-electronic / electronic filing|
|“N” Code (1 Apr 2022 – 30 Nov 2022)||3 May 2023|
|3 Jun 2023|
(1 Dec 2022 – 31 Dec 2022)
|15 August 2023||15 September 2023|
|“M” Code (1 Jan 2023 – 31 Mar 2023)||15 November 2023||15 December 2023|
Newly Registered Business
For newly setup companies, the first Profit Tax Return will issue around 18-month after the date of commencement of a new business. However, where circumstances warrant, the Department may issue a Provisional Profits Tax Return for completion as an earlier date.
For the Tax Return filing, the business owners have to submit the first returns with 3 months. If they failed to reply within 3 months from the date of issue. Then late penalties will be applied.
Previously, the small corporations and business with gross income not exceeding $2-million was no need to submit supporting document. Started from 1st April 2023, the small corporations need to provide furnishing supporting documents when filing.
Schedule from Inland Revenue Department to Hong Kong Limited Companies
|3 & 4 April 2023||Bulk issue of Profits Tax returns|
|3 May 2023||Deadline for submitting list of new clients for which your firm was appointed as tax representative on or after 22 February 2023 with “D” & “M” code returns on “Schedule” basis|
|3 May 2023||Deadline for submitting list of taxpayers (on “Schedule” basis) who have : ceased to be your clients for 2022/23 final assessment purposes changed their accounting dates|
|3 May 2023||Due date for “N” code returns – “active” files|
|4 May 2023||Due date for “N” code returns|
|1 Jun 2023||Deadline for notifying changes of clients’ details occurring between 3 and 31 May 2023 on “Schedule” basis|
|15 Aug 2023||Extended due date for “D” code returns|
|1 Nov 2023||Deadline for submitting further extension list for “M” code current year loss cases (Exceptionally, requests in individual cases may be lodged on or before 15 November 2023)|
|15 Nov 2023||Extended due date for “M” code returns|
|31 Jan 2024||Final extended due date for “M” code current year loss cases filed electronically or not|
Schedule from Inland Revenue Department to Individual Taxpayers in Hong Kong
|2 May 2023||Bulk issue of Tax Return – Individuals|
|2 Jun 2023||Deadline for submitting list of clients whom you have commenced or ceased to represent which the Department had not been notified prior to 10 March 2023|
|2 Jun 2023||Due date for unrepresented cases not involving sole-proprietorship business|
|3 Jul 2023||Extended due date for represented cases not involving sole-proprietorship business|
|2 Aug 2023||Due date for unrepresented cases involving sole-proprietorship business|
|3 Oct 2023||Extended due date for represented cases involving sole-proprietorship business|
For further information, please contact us.
You may want to read: What to do when I receive a Profit Tax Return?