Hong Kong has published a guide for 2023-25 profits tax filings.

The 2024-2025 profits tax filing season began on 1 April 2024 with the mass distribution of profits tax returns.

Who should file

Newly registered business

Generally, a newly registered business will receive its first Profits Tax Return some 18 months after the date of commencement of business or the date of incorporation.

Continuing business – Annual bulk issue of returns

The annual exercise to issue Profits Tax Returns in bulk takes place on the first working day of April each year.Business

Not required to submit return annually

It is the practice of IRD not to call for the annual submission of Profits Tax Returns in instances where the trade, profession or business carried on does not give rise to assessable profits or where the trade, profession or business has not commenced or has ceased and not recommenced.

However, upon receipt of a Profits Tax Return which may be issued from time to time in the course of reviewing your future tax potential, the requirement to lodge the return form must still be complied with.

Due dates for filing profits tax returns

If your tax representative has duly applied for an extension to file your 2024-25 Profits Tax Return under the Block Extension Scheme, the due date is normally extended as follows:

Application for extension for the submission of return

As a general rule, a further extension of time beyond the extended due dates under the Block Extension Scheme will only be granted in the most exceptional circumstances.  Any request for such extension should be made in writing with an explanation of why lodgement cannot be made in a timely manner, together with supporting evidence.  You should not assume that any further extension will be granted.