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

Only Profits Tax Return for any year of assessment from 2013/14 to 2018/19 issued to a corporation/partnership can be filed through the Internet.  In addition, the corporation/partnership must satisfy all the conditions specified by the Commissioner of Inland Revenue.

 A corporation must satisfy the following conditions in the relevant year:

  • Its gross income does not exceed HK$2,000,000;
  • It does not have any deemed assessable profits pursuant to section 20AE, 20AF and/or 20AK of the Inland Revenue Ordinance ("IRO");
  • It does not claim deduction for R&D expenditure under section 16B of the IRO and/or it does not have trading receipts or sale proceeds from intellectual property rights generated from R&D activities;
  • It does not claim deduction for expenditure on energy efficient building installation under section 16I of the IRO;
  • It is not a ship-owner;
  • Its Assessable Profits / Adjusted Loss 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, any profits / loss of a professional reinsurer or an authorized captive insurer as stipulated in section 14B of the IRO, or any qualifying profits / loss of a qualifying corporate treasury centre as defined in section 14C of the IRO, nor include any qualifying profits / loss of a qualifying aircraft lessor or qualifying aircraft leasing manager as defined in section 14G of the IRO, which are subject to tax at one-half of the tax rate;
  • It does not claim any tax relief pursuant to an arrangement for avoidance of double taxation specified under section 49(1) or 49(1A) of the IRO;
  • 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 performer's right in section 15(1)(bb) of the IRO;
  • It does not claim debt treatment for an arrangement as "an originator" or "a bond-issuer" of a specified alternative bond scheme under section 40AB and Schedule 17A of the IRO;
  • It does not claim deduction for distribution arising from a regulatory capital security; and
  • It is not required to submit any supplementary form.

 A partnership must satisfy the conditions above.  In addition,

  • It cannot have more than 6 partners during the basis period for that year of assessment (including those partners who retired); and
  • 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: March 2019
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