Aug 28, 2024
The Inland Revenue Department (IRD) launched enhanced e-filing services for profits tax returns on 1 April 2023. These services aim at promoting tax digitalization and improving the convenience and efficiency of filing profits tax returns. The enhanced e-filing services include e-submission of supporting documents in iXBRL format. The IRD provides free conversion tools on its website, namely, IRD iXBRL Data Preparation Tools (the Tools) for corporations and businesses to convert financial statements and tax computations into iXBRL data files. To provide additional support for the practitioners, IRD and the Institute are co-organizing a workshop session to give hands-on training on the operation of the Tools and the three steps of submission of profits tax returns through eTAX. The speakers will also walk you through the basic features of the IRD Taxonomy Package, give an overview and explain the functions of the Tools, and demonstrate the process flow from preparation to generation of the iXBRL finalised package, together with the steps required to upload iXBRL data files to IRD’s eTAX Portal for validation and submission.
Speakers:
Tim Kui, Tax Senior Manager, PwC
Tim is the Tax Senior Manager at PwC Hong Kong, actively involved in development of the IRD iXBRL Data Preparation Tools. He has extensive experience providing tax services to multinational and domestic clients across sectors such as property development, consumer and industrial products, and retailing.
Tim holds a Bachelor’s Degree in Business Administration with a specialization in Accountancy and Law and is a member of HKICPA. He is actively involved in the system development of the IRD iXBRL Data Preparation Tools.
Lorraine Lai, T ax Senior Manager, PwC
Lorraine is a Senior Tax Manager at PwC Hong Kong with over 8 years of experience advising listed, multinational, and local enterprises across various industries, including transportation, logistics, industrial products, real estate, retail, and trading. She specializes in tax consulting and planning, offering services like due diligence and dealing with Hong Kong Inland Revenue Department officials on matters such as offshore claims and tax resident certificates.
Lorraine holds a Bachelor of Business Administration in Accounting and is a member of HKICPA. She is actively involved in the system development of the IRD iXBRL Data Preparation Tools.