On 25 October 2023, the Inland Revenue Department (IRD) published a Circular Letter announcing an extension of the deadline for “M” code profit tax returns. The extension is granted for recognizing the genuine difficulties being experienced by businesses and practitioners in their operations.
According to the Circular Letter, the deadline for filing 2022/23 Profits Tax returns has been extended from 15 November 2023 to 29 November 2023 for taxpayers whose accounting date falls between 1 January 2023 and 31 March 2023 (Accounting Date Code M). Despite this extension, tax representatives are encouraged to file as many returns as possible well before the extended due date.
