2022 TAX RETURN FILING FOR A COMPANY AND AN INDIVIDUAL

Accounting & Auditing

Inland Revenue Department (IRD) of Hong Kong has published a schedule for a company and Individual Tax Return Filing for 2022. The bulk issue of Profit Tax Returns and Individual Tax Returns will be sent on 1st April and 1st June respectively. Thus, your green envelop is coming in early April and June as well. Are you ready to complete the filing for 2022-2023 yet?

Schedule of Profit Tax Return Filing

1st & 4th April 2022:

  • Bulk issue of Profit Tax Return from IRD

3rd May 2022:

Deadline for submitting list of new clients for which your firm was appointed as tax representative on or after 1 March 2022 with “N”, “D” & “M” code returns on “Schedule” Basis.

  • Deadline for submitting list of taxpayers (on “Schedule” basis) who have:
    • Ceased to be your clients for 2021/22 final assessment purposes
    • Change their accounting dates

30th June 2022:

  • Extended due date for “N” code returns. If you are using electronic filing system, there a further extension of 2 weeks.

2nd July 2022:

  • Deadline for notifying changes of clients’ details occurring between 3rd May and 30th June 2022 on “Schedule” basis

31st August 2022:

  • Extended due date for “D” code returns. If you are using electronic filing system, there a further extension of 2 weeks.

1st November 2022:

  • Deadline for submitting further extension list for “M” code current year loss cases. Exceptional, requests in individual cases may be lodged on or before 15th November 2022.

15th November 2022

  • Extended due date for “M” code returns. If you are using electronic filing system, there a further extension of 2 weeks.

31st January 2023

  • Final extended due date for “M” code current year loss cases filed electronically or not.

Tax Return – Individuals

1st June 2022

  • Bulk issue of Profit Tax Return from IRD

2nd July 2022

  • Deadline for submitting list of clients whom you have commenced or ceased to represent which the department had not been notified prior to 11th March 2022.
  • Due date for unrepresented cases not involving sole-proprietorship business. If you are using e-tax filing, then you have further 1 month extension.

2nd August 2022

  • Extended due date for represented cases not involving sole-proprietorship busiess.

1st September 2022

  • Due date for unrepresented cases involving sole-proprietorship business. If you are using e-tax filing, then you have further 1 month extension.

1st November 2022

  • Extended due date for represented cases involving sole-proprietorship businesses.

Failure to Submit

In all cases if you cannot lodge a tax return by the due date or the extended due date, estimated assessment will be issued and you may be required to pay more tax. You may also be subject to penalty proceedings which include payment of penalty, or even prosecuted.

For further information, please contact us.

You may want to read: What to do when I receive a Profit Tax Return?

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