Professional Profit Tax Filing Services in Hong Kong
Filing profit tax returns is mandatory for all businesses operating in Hong Kong. FastLane offers reliable services to ensure you stay compliant with BIR51 filing requirements and manage your company’s tax obligations efficiently.
Why Profit Tax Filing is Important
What is Profit Tax Return?
Profit tax refers to income tax levied on profits generated by businesses operating in Hong Kong. All companies, whether local or international, are required to comply with this regulation.
When Should You File BIR51?
- For New businesses: 21 months after incorporation
- For Existing companies: Annually within the prescribed deadlines
Penalties for Late Filing
- Legal consequences and fines
- Damage to company reputation
- Risk of audits and additional investigations
Why Outsource Your Profit Tax Filing
Save Time and Resources
Outsourcing your tax filing eliminates the need to handle complex paperwork, freeing up time to focus on core business operations.
Minimize Errors and Ensure Compliance
Experienced accountants ensure accurate filing, reducing the risk of fines or audits caused by mistakes.
Stay Up-to-Date with Changing Regulations
Tax regulations evolve, and outsourcing ensures your filings are always in line with the latest requirement.
Why Choose FastLane To File Your Profit Tax Return?
Dedicated Accountants for Accurate Filing
Our expert accountants ensure your financials, including tax reports, are accurate and filed on time, avoiding any last-minute stress.
Cloud-Based Document Management
Access and manage all essential documents anytime through our cloud-based platform.
Transparent and Inclusive Pricing
No hidden fees. Our packages cover everything you need for seamless tax compliance.
What Do You Need to Provide Us?
- Business registration number and incorporation documents
- Audited financial statements
- Previous tax filings (if applicable)
- Any additional financial records required by the IRD
Statutory Auditing & Tax Filing Service Prices
Tight deadline (1 month for audit)
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Field Audit Arrangements
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One Report For Multiple Years
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1. Government fees, penalties, courier, and other disbursements are not included.
2. Audit and Taxation fees listed above are a general estimate reference only, the actual price is subject to the complexity of the business, additional services fee will be charged according to the actual circumstance and engagement letter.
Contact us for a detailed overview of our services and customized solutions to fit your business needs. For more information or a personalized quote, reach out to our team today!
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Profits Tax Return Deadlines in Hong Kong (2024 Updated)
Remember to check the submission deadline for your company’s Profits Tax Return based on your year-end date. Our experts are here to guide you on when and how to start the audit process. Read our Profits Tax Return guide for further information!
| Company year-end date | Standard deadline for submitting Profits Tax Return to the government (IRD) | Extended due date |
|---|---|---|
| April 1 – November 30 (N code) | 2 May 2024 | 2 June 2024* |
| December 1 – 31 (D code) | 15 August 2024 | 15 September 2024* |
| January 1 – March 31 (M code) | 15 November 2024 | 15 December 2024* |
| Current Year Loss Cases (M code) | 31 January 2025 | No Extension |
What Do Our Clients Say About Us
Onion Creative Limited
XC5 Hong Kong Limited
Jam Consulting Limited (Knead)
FAQ
What is the filing deadline for Hong Kong Profit Tax Returns?
Newly incorporated companies must submit their first return within 21 months from their incorporation date. Existing businesses need to file annually, typically between April and November, depending on the fiscal year-end.
What forms are required for Profit Tax filing?
What happens if I miss the Profit Tax Return filing deadline?
Late submission may result in penalties, fines, and possible legal action by the Inland Revenue Department (IRD). Repeated non-compliance could trigger audits and investigations.
Do all companies need to submit audited financial statements?
Yes, all limited companies must submit audited financial statements along with their Profit Tax Return, regardless of their size or revenue.
What is the current profit tax rate in Hong Kong?
Hong Kong uses a two-tiered profit tax system: 8.25% on the first HKD 2 million in profits, and 16.5% on profits above that amount.
Are offshore income and foreign profits subject to Hong Kong Profit Tax?
No, only income derived from Hong Kong is subject to profit tax. Offshore income is generally exempt, provided the company can prove the income was not generated in Hong Kong.
Can I extend the filing deadline for my Profit Tax Return?
Yes, extensions may be granted under certain circumstances. Companies should apply to the IRD in advance and provide valid reasons for the delay.
What happens if I file my Profit Tax Return with errors?
If errors are found after submission, the company can file a revised return. However, deliberate underreporting of income or misstatements can result in fines and criminal charges.
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