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 | 30 Jun 2022 | 14 Jul 2022 |
1 Dec – 31 Dec 2021 | 31 Aug 2022 | 14 Sep 2022 |
1 Jan – 31 Mar 2022 | 15 Nov 2022 | 29 Nov 2022 |
“M” code current year loss cases | 31 Jan 2023 | No further extension |
