Completion of Profits Tax Return

Advantages of Internet filing

  • A secure service operating day and night
  • An additional extension of 2 weeks upon application
  • Neat and convenient completion of return
  • Integrity and confidentiality of data preserved
  • Instant transmission of data and no queuing or postage required
  • Immediate acknowledgement of receipt to you and others nominated by you
  • Efficient processing of returns

 

The return that is suitable for Internet filing

If the Profits Tax Return of a corporation/business is for any year of assessment from 2016/17 to 2021/22 (both inclusive) and the corporation/business meets ALL the following conditions, the return and the required supplementary forms can be filed through the Internet:.

  • Its gross income for that year of assessment does not exceed HK$2,000,000;
  • It does not have deemed assessable profits pursuant to section 20AE, 20AF, 20AX and/or 20AY of the Inland Revenue Ordinance (IRO) for that year of assessment;
  • Its assessable profits/adjusted loss for that year of assessment do not include any interest, profits/loss arising from short/medium term debt instruments (issued before 1 April 2018) as defined in section 14A(4) of the IRO, or any profits/loss of a professional reinsurer, an authorized captive insurer, a specified insurer or a licensed insurance broker company as defined in section 14AB of the IRO, or any qualifying profits of a qualifying corporate treasury centre as defined in section 14C of the IRO, or any qualifying profits of a qualifying aircraft lessor or a qualifying aircraft leasing manager as defined in section 14G of the IRO, or any qualifying profits of a qualifying ship lessor or a qualifying ship leasing manager as defined in section 14O of the IRO;
  • It does not claim any double taxation relief pursuant to an arrangement specified under section 49(1) or 49(1A) of the IRO for that year of assessment;
  • It has not obtained an advance ruling on any of its tax matter in relation to that year of assessment;
  • It has not paid or accrued to a non-resident person any sum for the use of intellectual property specified in section 15(1)(a), (b) or (ba) of the IRO or for the assignment of a performer's right specified in section 15(1)(bb) of the IRO during the basis period for that year of assessment;
  • It does not claim debt treatment for an arrangement for that year of assessment as an originator or a bond-issuer of a specified alternative bond scheme under section 40AB of and Schedule 17A to the IRO;
  • It is not a permanent establishment in Hong Kong of a non-Hong Kong resident person for that year of assessment;
  • It is not a ship-owner;
  • It does not claim tax concession in respect of eligible carried interest as provided in Schedule 16D to the IRO for that year of assessment;
  • If it is a corporation, it does not claim deduction for distribution arising from a regulatory capital security for that year of assessment; and
  • If it is a partnership business, it is carried on by a total of not more than 6 partners during the basis period for that year of assessment (including those partners who retired from the partnership during the basis period for that year of assessment) and that all of its partners are individuals.

Profits Tax Returns that can be filed through the Internet have been specified by the Commissioner of Inland Revenue and published in Government Gazette.

 

To use the “Completion of Profits Tax Return” service

Any person appointed by the corporation/business can use the “Completion of Profits Tax Return” service to fill in return information, irrespective whether he has an eTAX Account or not.

 

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Last revision date: April 2022