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Hong Kong Tax Express 202005

Kenneth Chau & Co. published Hong Kong Tax Express - May 2020 about Hong Kong Profits Tax Return Reporting timeline and information.

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Hong Kong
Tax Express
May, 2020
Hong Kong Profits Tax Return 2019/20
Extended deadline for lodgment of 2019/20 profits tax returns -
For taxpayers who have appointed tax representatives:
Disclaimer: The content in this publication is of general information only. It is not offered as advice and should not be taken as such. We
expressly disclaim all liabilities to any person for any reliance placed on the content of this publication. No client or other reader should
act or refrain from acting on the basis of the content of this publication without seeking specific professional advice.
Accounting date falls
between
Code Extended due date
1 Apr 2019 to 30 Nov 2019 N 30 Jun 2020 (instead of early May)
1 Dec 2019 to 31 Dec 2019 D 17 Aug 2020
1 Jan 2020 to 31 Mar 2020 M 16 Nov 2020
Newly Registered Business -
Generally, a newly registered business will receive its first
profits tax return some 18 months after the date of
incorporation.
Continuing Business -
The profits tax returns will be issued on the first working day
of April each year. In year 2020, the issue date is postponed
to 4 May 2020 because of the COVID-19 effects.
No Return Issued Business -
If you have previously been assessed as not liable to tax,
you may not receive profits tax returns annually. However, it
is required to notify the Inland Revenue Department in
writing when you become chargeable to tax not later than 4
months after the end of the basis period for the year of
assessment concerned.
If you carry on
business in the
form of a
corporation,
partnership
business or if a
non-resident
person is
chargeable to
profits tax in your
name, you should
report the profits
on profits tax
returns.
Please kindly contact our professional team to get further advices
for your profits tax return reporting: info@kennethchaucpa.com
HONG KONG TAX EXPRESS www.kennethchaucpa.com

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Hong Kong Tax Express 202005

  • 1. Hong Kong Tax Express May, 2020 Hong Kong Profits Tax Return 2019/20 Extended deadline for lodgment of 2019/20 profits tax returns - For taxpayers who have appointed tax representatives: Disclaimer: The content in this publication is of general information only. It is not offered as advice and should not be taken as such. We expressly disclaim all liabilities to any person for any reliance placed on the content of this publication. No client or other reader should act or refrain from acting on the basis of the content of this publication without seeking specific professional advice. Accounting date falls between Code Extended due date 1 Apr 2019 to 30 Nov 2019 N 30 Jun 2020 (instead of early May) 1 Dec 2019 to 31 Dec 2019 D 17 Aug 2020 1 Jan 2020 to 31 Mar 2020 M 16 Nov 2020 Newly Registered Business - Generally, a newly registered business will receive its first profits tax return some 18 months after the date of incorporation. Continuing Business - The profits tax returns will be issued on the first working day of April each year. In year 2020, the issue date is postponed to 4 May 2020 because of the COVID-19 effects. No Return Issued Business - If you have previously been assessed as not liable to tax, you may not receive profits tax returns annually. However, it is required to notify the Inland Revenue Department in writing when you become chargeable to tax not later than 4 months after the end of the basis period for the year of assessment concerned. If you carry on business in the form of a corporation, partnership business or if a non-resident person is chargeable to profits tax in your name, you should report the profits on profits tax returns. Please kindly contact our professional team to get further advices for your profits tax return reporting: info@kennethchaucpa.com HONG KONG TAX EXPRESS www.kennethchaucpa.com