Hong Kong Company Tax Return
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Profits Tax Returns
There are three series of Profits Tax return forms. The specimen return forms available for download hereunder are for reference only. No attempt should be made to use a printed copy of the specimen form for filing purpose.
Profits Tax Return - Corporations (BIR51)
Profits Tax Return - Persons Other Than Corporations (BIR52)
Profits Tax Return - In Respect Of Non-Resident Persons (BIR54)
Advice on Completion of Profits Tax Returns
(1) Notes and Instructions to Return:
The relevant Notes and Instructions as follows are provided to assist taxpayers in completing the return forms:-
(a) Notes and Instructions - Form BIR51
(b) Notes and Instructions - Form BIR52
(c) Notes and Instructions - Form BIR54 (printed on page 4 of BIR54)
Details of the documents and information that should be submitted together with the return forms are specified therein.
(2) All items in the Profits Tax Return must be completed fully and properly. Return should be filed on time, together with the following documents [collectively called "Supporting Documents" (You may refer to Format Specifications for Supporting Documents.)]:
(a) For corporations, they are
(i) a certified copy of Statement of Financial Position/Balance Sheet, Auditor's Report where required by Hong Kong or foreign Law or has otherwise been prepared and Statement of Comprehensive Income/Profit and Loss Account in respect of the basis period;
(ii) a tax computation with supporting schedules showing how the amount of Assessable Profits (or Adjusted Loss) has been arrived at; and
(iii) other documents and information as specified in the Notes and Instructions.
(b) For unincorporated businesses, they are
(i) a certified copy of Statement of Financial Position/Balance Sheet and Statement of Comprehensive Income/Profit and Loss Account in respect of the basis period;
(ii) a tax computation with supporting schedules showing how the amount of Assessable Profits (or Adjusted Loss) has been arrived at; and
(iii) other documents and information as specified in the Notes and Instructions.
(3) Concession for Small Corporations and Businesses
A concession has been granted to small corporations and businesses to allow them not to submit the supporting documents above when lodging their returns. However, it needs to be clearly understood that these documents must still be prepared before completion of the return and may be called for by the Department in appropriate circumstances. For explanation on what is a small corporation or business, you may refer to the Note C3 in "Notes and Instructions" to Return.
(4) For corporations, audited financial statements should be submitted with the returns in all cases except:-
(a) for small corporations as defined in the "Notes and Instructions" to return;
(b) for dormant companies within the terms of the Companies Ordinance;
(c) for companies incorporated in a jurisdiction whose laws do not require financial statements to be audited; and
(d) for Hong Kong branch of a foreign company provided that the following information is supplied together with the return:-
(i) the place of incorporation of the foreign company,
(ii) whether the laws of that country require a statutory audit of the world-wide financial statements of the company,
(iii) whether that audit has been conducted, and
(iv) a brief summary of the financial and accounting records maintained by the Hong Kong branch.
(5) Pro forma Profits Tax Computation
A "Pro forma Profits Tax Computation" (IR957), which is intended to assist owner of an unincorporated business who has not appointed a tax representative to submit a tax computation showing how the amount of Assessable Profits/(Loss) has been arrived at can be obtained through the Fax-A-Form service (Telephone No. 2598 6001) or from the Central Enquiry Counter.
(6) Election for Personal Assessment
If any partner of a partnership decides that his/her share of profits/(loss) be dealt with under Personal Assessment, he/she may state his/her intention in the Profits Tax Return. However, election must be made in his/her own Tax Return - Individuals (BIR60).
(7) Hiring of a Practising Accountant to complete the Return Form
The Inland Revenue Department does not require a person to engage a practising accountant in completing the Return Form. If a person has any difficulty in completing it, he/she should prepare such financial statements, as he/she is able to and explain how it has been constructed. He/she should also complete the return to the best of his/her ability. Taxpayer may also call upon the officers at the Central Enquiry Counter on the 1st Floor of Revenue Tower who will explain what is required, or direct him/her to see the Assessor handling his/her file. No charges are made for any services rendered by officers of the Department.
Contact Us
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