Submission 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 2015/16 to 2020/21 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 for the basis period does not exceed HK$2,000,000;
  • 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 have any deemed assessable profits pursuant to section 20AE, 20AF, 20AX and/or 20AY of the Inland Revenue Ordinance ("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, an authorized captive insurer, a specified insurer or a licensed insurance broker company as defined in section 14AB of the IRO, any qualifying profits / loss of a qualifying corporate treasury centre as defined in section 14C of the IRO, any qualifying profits / loss of a qualifying aircraft lessor or a qualifying aircraft leasing manager as defined in section 14G of the IRO, or any qualifying profits / loss of a qualifying ship lessor or a qualifying ship leasing manager as defined in section 14O of the IRO;
  • 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 does not claim debt treatment for an arrangement as "an originator" or "a bond-issuer" of a specified alternative bond scheme under section 40AB of and Schedule 17A to the IRO;
  • It does not claim deduction for distribution arising from a regulatory capital security; and
  • It is not a permanent establishment in Hong Kong of a non-Hong Kong resident person.

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 have retired); and
  • All of its partners are individuals.

The 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 “Submission of Profits Tax Return” service

Only an eTAX Account holder in the following capacity can use the “Submission of Profits Tax Return” service to sign and submit Profits Tax Return that meets the criteria for Internet filing:

  • the Director, Secretary, Manager or Investment Manager (only applicable to a corporation that is an open-ended fund company) of the corporation;
  • the precedent partner of the partnership; or
  • the sole proprietor of the business (only if it was changed from a partnership to a sole proprietorship during the basis period for the year of assessment).

The person who is responsible for submitting the Profits Tax Return will need to log on to his eTAX Account to use the “Submission of Profits Tax Return” service to retrieve the draft return file that has been saved for submission using the “Completion of Profits Tax Return” service.  He will also be required to input his designation for submission of the return and then sign and submit the return electronically.

If you do not have an eTAX Account, go to eTAX Account to open one.

 

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Last revision date: April 2021