4 January 2022 - The Inland Revenue Department’s TAX Journey

Jan 4, 2022

(jointly organized by AWAHK and SCAA)

The Inland Revenue Department (IRD) has been working at full steam to take forward a project on electronic filing (e-filing) of profits tax returns which will be implemented by two phases. In the first phase, the existing eTax Portal will be enhanced by 2023, to enable more businesses to voluntarily e-file profits tax returns, together with their financial statements and tax computations in inline eXtensible Business Reporting Language (iXBRL) format. In the second phase, a new Business Tax Portal will be rolled-out by 2025 to replace the existing eTax Portal and facilitate e-filing of profits tax returns by businesses.

On January 4 the IRD conducted a consultation session to brief the SCAA, AWAHK, CAANZ, CIMA and CPAA members and their employees on the proposals for taking forward the e-filing project and address their questions and concerns.

Speakers:

Mr. LEUNG Kin-wa, JP
Deputy Commissioner (Operations), the Inland Revenue Department

Mr. Desmond Wong
Tax Partner, PwC Hong Kong