Newsletter

In this March 2022 Issue of our Newsletter, we will discuss 2021/22 Profits Tax Return updates and the tax treatments of Keyman Insurance Policy.[H2]

1. 2021/22 Profits Tax Return Update - Extended Deadline

The IRD allows further extension of deadline to file 2021/22 Profits Tax return

The bulk issue of the 2021/22 Profits Tax returns to corporations and partnership businesses has taken place since 1 April 2022. In view of the current COVID-19 situation in Hong Kong, the Inland Revenue Department (“the IRD”) has extended the due date for filing the 2021/22 Profits Tax return for N-code and D-code Corporations.

If a taxpayer has authorized a tax representative to act on his behalf, the due date will be extended as follows:

ACCOUNTING DATE

EXTENDED DUE DATE

FURTHER EXTENDED DUE DATE IF OPTING FOR E-FILING

1 Apr – 30 Nov 2021
(“N” Code)

30 Jun 2022

14 Jul 2022

1 Dec – 31 Dec 2021
(“D” code)

31 Aug 2022

14 Sep 2022

1 Jan – 31 Mar 2022
(“M” code)

15 Nov 2022

29 Nov 2022

“M” code current year loss cases

31 Jan 2023

No further extension

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