Apr 1, 2025
Inland Revenue Department – 2024-25 Profits Tax Filing
The Inland Revenue Department (IRD) issues 2024/25Profits Tax Returns to corporations and partnership businesses today.
To keep pace with the development in international tax administration and information technology, the Department is actively promoting tax digitalization. Taxpayers are encouraged to file electronically their Profit Tax Returns together with the supporting documents (including financial statements and tax computations) in iXBRLformat on a voluntary basis.
To facilitate taxpayers in preparing the required iXBRL data files, the IRD is providing the IRD Taxonomy Package (the Taxonomy) and the IRD iXBRL Data Preparation Tools (including the Template Tool and Tagging Tool, collectively known as the Tools), which are available for download from the IRD website free of charge. The Taxonomy and the Tools have been updated and enhanced this year. The major enhanced features include:
enhancing the English Tagging Tool (Windows Version) to accept the import of financial statements in Microsoft Excel format; and
enriching the selection of currency types to facilitate taxpayers in generating the iXBRL data files for financial statements and tax computations denominated in a more variety of currencies.
More details on electronic filing of Profits Tax Returns and iXBRL filing can be found on the IRD’s webpages at www.ird.gov.hk/e_epf and www.ird.gov.hk/e_ixbrl respectively. For enquiries in relation to the iXBRL filing requirements and the use of the Tools, you may contact the IRD at ixbrl_reporting@ird.gov.hk, or access ONLINE APPOINTMENT BOOKING to book a specific timeslot to make enquiries via phone.
The IRD will launch three interconnected portals, namely Individual Tax Portal, Business Tax Portal (BTP) and Tax Representative Portal (TRP), in July 2025 to provide electronic services including enhanced electronic filing services, block extension service and other electronic services for individuals, businesses and tax representatives. The BTP and TRP will be pre-launched for businesses and tax representatives to register their dedicated accounts starting from late April 2025. Details of the BTP and TRP will be announced on the IRD’s website.
The IRD also aims at implementing full adoption of electronic Block Extension Scheme starting from April 2026. It follows that tax representatives are required to submit electronically their block extension applications or notifications through the block extension service under the TRP in respect of their clients’ Profits Tax Returns with effect from the year of assessment 2025/26. Tax representatives are encouraged to lodge block extension applications or notifications electronically this year so as to enhance the efficiency, accuracy and reliability of block extension requests. More details in relation to the Block Extension Scheme can be found on the IRD’s webpage on Block Extension Scheme for Tax Representatives .