HONG KONG: LODGEMENT OF 2022/23 PROFIT TAX RETURNS
The profits tax filing season sent with the bulk issuance of the 2023/23 profit tax returns on 3rd April 2023.
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 (No Extension) | 3 Jun 2023 |
“D”Code (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 |
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.
Date | Event |
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 |
Date | Event |
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?