C K Yau & Partners CPA Limited

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Company | Key Executives | Founder | Milestones
Hong Kong Taxation | Deadline for Tax Returns | Severance and Long Service Payment | Keeping Business Records
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Important Briefing / Deadline for Tax Returns

 

 

Profits Tax Return

Profits Tax Return will be issued by the Inland Revenue Department to active partnership businesses and corporation at the beginning of April each year. The deadline for filing Profits Tax Return will be different for companies with different year end dates. The standard deadline and extended due dates are set out below:-

Year-End Dates Fall Within Standard Deadline Extended Due Date

1 April - 30 November (N code)

2 May of next year No extension

1 - 31 December (D code)

15 August of next year No extension

1 January - 31 March (M code)

15 November of the same year 31 January of next year for companies which suffered statutory loss *

* Application must be lodged on or before 31 October.

 

Tax Return - Individuals

Tax Return - Individuals will be issued by the Inland Revenue Department to individuals at the beginning of May each year. The deadline for filing the Tax Return will be different depending on whether the individuals have sole proprietorship business or not. Details of deadlines are stated as follows:-

Sole proprietorship Standard Deadline Extended Due Date

With sole proprietorship

31 July 2 October

Without sole proprietorship

1 month from issue date 30 June

 

Property Tax Return

Property Tax Return will be issued by the Inland Revenue Department to landlords at the beginning of April each year. The deadline for filing the Property Tax Return will be one month from the date of issue.

 

Penalty

If tax returns are not lodged by the above-said due dates or extended due dates, the Inland Revenue Department will issue estimated assessments and also undergo penalty proceedings under Section 80(2) or 82A where the taxpayer will be subject to a fine of maximum HK$25,000 and an additional tax not exceeding treble of the tax concerned.

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