There is an important date you need to know for tax returns when you operate a company in Hong Kong, applicable for both limited and unlimited companies.

1. Standard Deadline

• Corporations: The tax return is generally due one month after it is issued by the Inland Revenue Department (IRD). Every year, the deadline is approximately the same for your company. You can enable accounting service with your trusted accounting firm, so your consultant will remind you when deadline is approaching.

2. Extended Deadline

• Companies can apply for an extension to file their tax returns. If approved, the extension usually allows an additional three months.

3. Financial Year-End

• The standard financial year for most companies aligns with the fiscal year ending on March 31. Companies with a different year-end must file their returns within one month of receiving the tax return from the IRD.

4. Estimated Assessments

• If a company fails to submit its tax return on time, the IRD may issue an estimated assessment, which the company will have to contest if it believes the estimate is incorrect.

Conclusion

It’s important for companies in Hong Kong to keep track of their tax return deadlines and ensure timely submissions to avoid penalties. Consulting a local tax professional can provide guidance tailored to specific circumstances and financial year-end dates.

Others

If you are a busy person, you can hire a tax representative to assist you.