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

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.

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

Profits Tax return of a corporation/business meeting ALL criteria for Internet filing can be signed and submitted via the “Submission of Profits Tax Return” service by a personal eTAX Account holder in one of the following capacities:

  • 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).

With effect from 1 April 2022, Profits Tax return may be signed and submitted online by the service provider for or on behalf of the taxpayer if the service provider:

  • has obtained “Confirmation for Engagement of Service Provider to Furnish Return” (IR1476) from the taxpayer stating that all information contained in the return, any required supplementary forms and the Supporting Documents is correct and complete to the best of the taxpayer’s knowledge and belief; and
  • holds an organizational certificate issued by a recognized certification authority or a personal eTAX Account.

The person who is responsible for submitting the Profits Tax return will need to log on to his eTAX Account or, for service provider, authenticated by the organizational certificate 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 wish to sign by personal eTAX Account but do not have one, go to eTAX Account to open one.

 

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Last revision date: April 2022