Submission of Tax Return

Under section 51(1) of the Ordinance, a written notice may be given to any person requiring him within a reasonable time stated in such notice to furnish a return of assessable profits. The annual exercise can be summarised as follows:

Corporations and other taxpayers

(a) In early April, the profits tax returns are issued to corporations and other taxpayers who are required to report their assessable profits in the returns.

Individuals

(b) In early May, Individual Tax returns are issued to individuals who are required to report in their returns the assessable profits derived from their sole proprietorship businesses.

For all taxpayers, if their businesses generate gross income exceeding the amount specified by the Department, usually in the notes of the return, supporting documents, including a copy of the accounts (audited accounts if the taxpayer is a corporation) and a tax computation with supporting schedules showing how the amount of assessable profits is arrived at, are required to be submitted with the completed tax returns. If the gross income does not exceed the specified amount, supporting documents need only be submitted when required later.

Reference:

• DEPARTMENTAL INTERPRETATION AND PRACTICE NOTES NO. 11 (REVISED) FIELD AUDIT AND INVESTIGATION, Inland Revenue Department, The Government of the Hong Kong Special Administrative Region of the People's Republic of China https://www.ird.gov.hk/eng/pdf/dipn11.pdf