Mexus understands Hong Kong’s taxation/tax filing rules. With its professional knowledge and experience in tax filing, Mexus provides companies with the most comprehensive tax filing consulting and filing services in the tax filing process, so as to obtain the largest tax incentives and reduce the liabilities arising from tax filings. And improve corporate profitability.The Inland Revenue Department（IRD） issues tax returns to individuals, sole proprietors, partnerships, owners and limited companies.These individuals and companies should complete their tax returns and submit the required documents to the IRD within 1 to 3 months from the date of their tax returns.
Tax services include:
Whether it is individual tax filing, corporate operator tax filing (sole proprietorship/partnership), owner tax filing, limited company tax filing, etc., Mexus can provide customers with the most professional tax filing advice to arrange the best tax filing services.
Tax filing services include:
Hong Kong tax filing service;Businesses tax filing consulting services;Businesses taxation representative;Individual tax filing and planning;Individuals tax filing agency;Resolve tax filing disputes, etc.
Return Identification Number (RIN)
To facilitate taxpayers’ tax filing, common Return Identification Number (RIN) are integrated into the following items:Limited company tax return (BIR51)Partnership Tax Return (BIR52)Tax Return for Individuals and Sole Proprietors (BIR60)Employer’s tax return (BIR56A; IR56B; IR56E; IR56F)
Tax filing 2021 schedule
Individuals tax return
Starting from the first working day in May each year, the tax bureau will successively issue individual tax returns (BIR60) to taxpayers.After the tax assessment process is completed, the Inland Revenue Department will issue tax bills to individuals starting in October each year, and the tax payment deadline is January and April of the next year.
Individuals tax filing deadline
Upon receipt of the tax return, the taxpayer must complete the tax return and return it to the Inland Revenue Department within 1 month of the tax return issuance date; if the taxpayer submits the tax electronically, the tax return deadline will be 2 times the tax return issuance date Within the month.
Individual’s first tax return
For those who file for the first time, there is no fixed date for the issuance of their tax returns. Generally, the tax returns will be issued within 5 months after the tax returns (IR56E) from the employers are received by the Inland Revenue Department or the tax notices issued by the Commissioner of the Inland Revenue Department.
Businesses tax filing
From the first working day of April each year, the Inland Revenue Department will issue profits tax returns to all companies in Hong Kong.
Business tax filing period
When a company receives a tax return, it must complete it and return it to the IRD within one month from the date of the tax return.This period is also listed on page 1 of the tax return.
Business first tax return
For companies that file tax returns for the first time, the IRD generally issues their first profits tax return within 18 months after the company is established.If the enterprise does not receive the tax return, the proprietor has the responsibility to notify the IRD to issue the tax return.
Time limit for the company’s first tax return (cannot apply for an extension of tax return)
Enterprises must submit return tax returns within 3 months for the first tax filing.It is worth noting that the tax return period of the first tax return is 2 months longer than that of the non-first tax return, so it is not possible to apply for an extension of tax return.
Business tax filing instructions
The company still needs to file tax if it is not operating
If the company does not operate during the fiscal year, it still needs to fill out the tax return, but you can choose to apply for an exemption from the audit process.
Business losses still need to be reported
Once the company suffered a financial loss last year, the company may not necessarily receive a profit tax return.However, tax returns may be issued at any time.As long as the enterprise has “assessable profits” in the year, even if it has not received the profits tax return, the enterprise still has the responsibility to notify the tax bureau to issue the relevant tax return.
Income exceeding 2 million, tax return together with other information
Regardless of whether the company is a sole proprietorship or a partnership, if the company’s income in the current fiscal year exceeds 2 million, the company must return the tax return, income statement, and balance sheet to the tax bureau when filing tax returns.The above information is for reference only.If you have any questions about tax returns (Individual’s tax returns, Business tax returns, etc.), we welcome your inquiries.