Filing tax returns is always a headache, especially when you are in a hurry to submit your tax return before the deadline. The government has a block extension arrangement that gives you more time and flexibility in filing your tax return. But does this arrangement apply to all tax types? Especially for profits tax and salaries tax? This article will address this question and list the individual extensions for 2022/23:
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Table of Contents
How do I apply for an extension to file a tax return?
How do I file an extension of time to file my income tax return?
Can I file an extension of time for salaries tax and sole proprietorship?
How to apply for an extension of time to file a tax return?
If you are an authorized tax representative, you can apply for extension of time to file your tax return by joining the block extension arrangement. First, submit a written application to the Inland Revenue Department together with a copy of the Business Registration Certificate and a copy of the practicing certificate or registration certificate issued by the Institute of Professional Accountants (if applicable) to the General Affairs Section, Inland Revenue Department, Division 1, Inland Revenue Centre, 5 Kai Tak Co-ordination Road, Kowloon, Hong Kong.
If successfully enrolled in the block extension arrangement for filing tax returns, further applications can be submitted electronically through the Internet. The application and notification can be submitted online using the facilities provided by IRD on the GovHK website. Users must first complete the relevant registration form to obtain a user password before they can use the facility.
What is the extension for filing profits tax returns?
If a taxpayer files electronically, the IRS will grant a further extension of one month beyond the normal deadline. For loss cases with a closing date category of “M,” priority will be given to cases with a gain. These extensions must be filed on or before November 1, 2023, and have a deductible loss on the profits tax return filed. If a further extension has been applied for, but assessable profits are reported on the return, penal action may be taken.
For taxpayers with tax representatives who are involved in a sole proprietorship, the deadline for filing tax returns can be extended to October 3, 2023. If a taxpayer needs to further extend the deadline for filing tax returns, they must file a request with the IRS. The deadline for filing tax returns has been extended, but taxpayers should make every effort to file their returns prior to the extended deadline.
Can salaries tax and sole proprietorship tax be deferred?
Individual tax returns for 2022/23 will be issued in full on May 2, 2023. If a taxpayer has appointed a tax representative but is not involved in a sole proprietorship, the deadline for filing a return can be extended to July 3, 2023. If a sole proprietorship is involved (regardless of the closing date), the filing deadline may be extended to October 3, 2023. Eligible applications for extensions of time to file are considered approved unless otherwise notified by the IRS.
If a taxpayer needs to further extend the filing deadline, he or she must file a request with the IRD. Under normal circumstances, the IRD will only grant extensions longer than the above in very special circumstances.
The above information is provided for your reference. If you have any questions or information about tax filing (individual, corporate or accountant), you are welcome to contact our professional advisors and we will provide you with a free quote and consultation service later.