Hong Kong companies are required to file profits tax return with the Inland Revenue Department (“IRD”). If no profits tax return was issued, the company is required to notify the IRD when it has generated taxable profits.

Generally, the first profits tax return is issued to a newly registered business some 18 months after the commencement date of business or incorporation date. Subsequent profits tax returns are issued on in early April each year.

Profits tax returns must be filed within one month from the date of issue, except for the use of electronic filing. CNAPTL, as an experienced tax specialist, is keen to take up the role of its clients’ tax representative. We schedule time to have the financial statements of its clients audited, profits tax computed and profits tax return properly prepared, signed and finally delivered to the IRD on or before the due date.

As its clients’ tax representative, EATPL will duly apply for an extension to file profits tax returns under the Block Extension Scheme. The extended due date then depends on the clients’ accounting dates. If necessary, EATPL will further write, on their behalf, to the Commissioner of Inland Revenue to apply for further extension of time beyond the extended due date on condition that strong explanation and evidence for further extension are provided.