8 November 2023 - Step by step approach to E-filing of Hong Kong profits tax return (Re-run)

Oct 17, 2023

The Inland Revenue Department (IRD) has announced that the due date for filing the 2022/23 profits tax returns for M-code cases will be further extended to 29 November 2023, while the extended due date for lodging tax returns using electronic filing (including semi-electronic filing mode) is 29 December 2023.

For e-filing case, an extension application must be lodged to the IRD at least 7 working days before the return is otherwise due for submission.

Some members or some companies have chosen to file their HK Tax Returns using e-filing, together with tax computations and financial statements in a specified internationalized format namely, inline eXtensible Business Reporting Language (iXBRL), which is new to all businesses and tax practitioners in Hong Kong.

In 2023, the existing eTAX Portal has been enhanced to enable businesses to voluntarily perform e-filing in iXBRL format. Subject to legislative vetting, it is expected that multinational enterprises will be required to adopt e-filing on a mandatory basis from 2025/2026 and will be extended to a wider scale of businesses including small-medium enterprises on a mandatory basis by 2030.

AWAHK and SCAA have specially invited our speakers to give us a step-by-step approach to e-filing of HK Profits Tax Returns.

Besides demonstrating the use of the portal, this seminar will cover the following areas: * Impacts of new e-filing requirements
* Overview of the flow of submitting profits tax returns through eTAX and the relevant procedures
* Using the IRD iXBRL Data Preparation Tools
* Basic requirements on tagging financial statements and tax computations for generating iXBRL data files in support of the e-filing of profits tax returns through eTAX

Chairman: Ms. Elizabeth Law
Chairman of SCAA Taxation Committee

Ms. Yan Yeung Partner, Tax Services, PwC Hong Kong
Yan Yeung is a Partner of PwC Hong Kong’s corporate tax practice. She has 20 years of experience in providing Hong Kong and international tax compliance and consulting services to local, regional and multinational clients. She has been actively taken part in regional corporate structuring, merger and acquisition, tax due diligence, tax investigation, tax accounting and IPO projects. Yanis is also a frequent speaker in tax seminars organised by accountancy and taxation professional bodies in Hong Kong. She is a member of The Hong Kong Institute of Certified Public Accountants and a Chartered Tax Advisor of The Taxation Institute of Hong Kong.

Ms. Karen Au Partner, Tax Controversy Services, PwC Hong Kong
Karen Au is a Partner of PwC Hong Kong’s corporate tax practice. She has been providing Hong Kong tax and business advisory services to MNCs, SOEs, listed companies and SME clients, particularly those in the industries of retail, general trading, sourcing, agency services, medical, education, asset management and charitable organizations. She is also a specialist in Tax Controversy and Dispute Resolution.

Over 200 participants joined in the Face-to-Face and Zoom seminar.