When Are Taxes Due in Hong Kong? 2024/25 Tax Deadlines Explained

Tax season in Hong Kong can feel overwhelming, especially when multiple returns are issued with different filing dates. Whether you are an individual, employer, or company owner, knowing when taxes are due is essential to staying compliant and avoiding penalties.

For the 2024/25 year of assessment (1 April 2024 – 31 March 2025), the Inland Revenue Department (IRD) has set clear deadlines for Salaries Tax, Profits Tax, Employer’s Returns, and property-related filings. With electronic filing (eTAX) now offering automatic extensions and new supplementary forms required for certain cases, it’s more important than ever to prepare early.

In this guide, we break down the key Hong Kong tax deadlines, explain the recent updates for 2024/25, and show you how to stay on top of every filing requirement — with support from FastLane Group as your trusted compliance partner.

Hong Kong Tax Deadlines 2024/25

The Inland Revenue Department (IRD) issues different types of tax returns depending on whether you are an individual, sole proprietor, employer, or company. Each has its own deadline — and missing one can mean penalties or estimated assessments.

Below is a summary of the key Hong Kong tax deadlines for the 2024/25 year of assessment (1 April 2024 – 31 March 2025):

Key Takeaways

• Individuals usually get 1 month, but sole proprietors enjoy 3 months.
  
• Employers must file within 1 month — no extensions.
  
• Companies benefit from different extensions under the Block Extension Scheme depending on year-end code.
  
• Electronic filing (eTAX) provides an automatic 1-month grace period in most cases.
  
• If you don’t receive a return but have taxable income, you must notify the IRD within 4 months.
  

Late filing can lead to fines, surcharges, and even prosecution. Setting calendar reminders is the easiest way to stay compliant.

Key Changes in Hong Kong Tax Filing for 2024/25

The 2024/25 year of assessment is not just another filing cycle — it marks an important shift in how taxpayers must prepare, file, and report. These changes are designed to modernise Hong Kong’s tax system, strengthen alignment with global standards, and push businesses toward full digital compliance.

Here’s what you need to know:

1. New Supplementary Forms (Mandatory E-Filing)

The Inland Revenue Department (IRD) has rolled out three new supplementary forms that replace older schedules. These forms must be filed electronically, even if the main Profits Tax Return is submitted on paper:

• S19 – Reporting specified foreign-sourced income.
  
  • Covers dividends, interest, royalties, and gains on asset disposals.
    
  • Includes a new section for intra-group transfers (where cost basis is inherited from the associated seller).
    
• S21 – Claiming non-taxable treatment for equity disposal gains.
  
  • Linked to the tax certainty enhancement scheme introduced in 2024.
    
  • Taxpayers must demonstrate shareholding of at least 15% for 24 months or more.
    
• S22 – Claiming the 5% concessionary rate on eligible IP income.
  
  • Part of the new patent box regime, encouraging R&D in Hong Kong.
    
  • Covers royalties and other profits directly tied to qualifying patents.
    

All supplementary forms must be filed in XML format through the IRD’s e-platform. Paper submissions without proper XML uploads will be considered incomplete.

2. Expanded Foreign-Sourced Income Exemption (FSIE)

Hong Kong’s FSIE regime, first introduced in 2023, was expanded on 1 January 2024:

• Now covers all asset disposal gains, not just shares or financial instruments.
  
• To qualify for exemption, businesses must meet economic substance rules (real activities in Hong Kong, not just a holding structure).
  
• If conditions aren’t met, foreign income must be taxed in Hong Kong, with possible relief through foreign tax credits if a tax treaty applies.
  

Action point: Businesses with cross-border transactions should carefully review how asset disposals, dividends, or interest income are treated under the FSIE rules. Early tax planning is critical to avoid unexpected tax bills.

3. Deduction for Lease Reinstatement Costs

From 2024/25, businesses can claim a deduction for actual reinstatement costs incurred when restoring leased premises at the end of tenancy.

• Provisions under accounting standards (e.g., HKFRS 16) are not deductible — only cash payments made qualify.
  
• Companies with multiple properties should keep a reconciliation schedule tracking provisions vs. actual costs.
  
• Deduction applies when payment is made, not when provisions are booked.
  

This change provides real relief for businesses in Hong Kong’s expensive property market — but only if proper documentation is kept.

4. Abolition of MPF Offsetting for Long Service Payments (LSP)

Effective 1 May 2025, employers can no longer use accrued MPF contributions to offset severance or long service payments.

• Taxpayers can deduct specific provisions for LSP if made in compliance with the Employment Ordinance.
  
• Alternatively, deductions can be based on actual LSP payments — but consistency in reporting method is required.
  
• Employers should review HR and payroll policies now to prepare for the new rules.
  

Failure to update payroll systems may result in errors, missed deductions, or overpayments.

5. Mandatory E-Filing Roadmap

Hong Kong is phasing in mandatory electronic filing of Profits Tax Returns. The roadmap is as follows:

• 2025/26 – All in-scope multinational enterprise (MNE) groups must e-file.
  
• 2028 – Mandatory e-filing for businesses exceeding a turnover threshold (still to be confirmed).
  
• 2030 – All companies, including dormant entities, will be required to e-file.
  

Businesses relying on manual processes must modernise their accounting, audit, and compliance workflows. Adopting e-filing tools and structured digital records now will save time and prevent rejection when e-filing becomes compulsory.

The 2024/25 tax year is not only about meeting deadlines — it’s about adapting to a new era of compliance. From XML filings to stricter FSIE rules, Hong Kong taxpayers must stay proactive. Partnering with a professional firm like FastLane Group ensures filings are accurate, timely, and aligned with the latest regulatory changes.

Required Documents for Hong Kong Tax Filing

Preparing the right documents in advance will save time, reduce errors, and help you claim all allowable deductions. The Inland Revenue Department (IRD) requires different information depending on whether you are an individual, employer, corporation, or property owner.

1. Individuals (Salaries Tax – BIR60)

• Hong Kong Identity Card number
  
• Employer-provided income statements (IR56B, IR56E, IR56F, IR56G)
  
• Details of annual income (salary, allowances, bonuses, share options)
  
• Rental income records (if applicable)
  
• Business income (sole proprietorship)
  
• Receipts for deductible expenses:
  
  • Approved charitable donations
    
  • Self-education expenses
    
  • Mandatory Provident Fund (MPF) contributions
    
  • Home loan interest
    
• Dependent information (spouse, children, parents) for allowance claims
  

Tip: Keep receipts for at least 7 years in case the IRD requests verification.

2. Corporations & Partnerships (Profits Tax – BIR51, BIR52, BIR54)

• Audited financial statements (mandatory for incorporated entities)
  
• Profit & Loss account and Balance Sheet
  
• Tax computation and supporting schedules
  
• Records of tax adjustments:
  
  • Capital allowances
    
  • Depreciation allowances
    
  • Non-deductible expenses
    
• Details of group structures or related-party transactions (for FSIE rules)
  
• Supplementary Forms (if applicable):
  
  • S19 (foreign-sourced income)
    
  • S21 (equity disposal gains)
    
  • S22 (patent box regime)
    
• Auditor’s practising certificate number (for Hong Kong auditors)
  

From 2024/25, supplementary forms must be filed electronically in XML/iXBRL format, even if the main return is paper-based.

3. Employers (Employer’s Return – BIR56A + IR56 series)

• Employee payroll records (including allowances, bonuses, share benefits)
  
• Director remuneration details
  
• Records of non-cash benefits (e.g., housing, stock options)
  
• Start / cessation / termination forms:
  
  • IR56E (new employees)
    
  • IR56F (leavers)
    
  • IR56G (employees departing Hong Kong)
    

Reminder: The Employer’s Return must be filed every April, even if no employees were hired during the year.

4. Property Owners (Property Tax – via BIR60 or Profits Tax Return if held in a company)

• Tenancy agreements and rental records
  
• Receipts for government rent and rates paid
  
• Records of irrecoverable rent (if any)
  
• Mortgage or loan interest details (if deductions apply)
  

Organised record-keeping is the foundation of smooth tax filing. Employers and corporations in particular must ensure all supporting schedules and supplementary forms are complete — otherwise, the IRD may reject the filing or issue an estimated assessment.

Methods for Filing Hong Kong Tax Returns

The Inland Revenue Department (IRD) offers multiple ways to submit your tax return, depending on your taxpayer type and filing preferences. Choosing the right method is important because it can affect your deadlines, extensions, and compliance obligations.

Filing Options

Deadlines and Extensions with eTAX

• Individuals and sole proprietors:
  Filing through eTAX gives you an automatic one-month extension.
  
• Corporations with block extensions (D or M code):
  Can apply for further extension via e-filing, especially for profit cases.
  
• Supplementary forms:
  Must be uploaded electronically in XML format regardless of filing method.
  

If you attempt to submit supplementary schedules on paper without the proper XML control list, the IRD will reject your filing.

Many businesses still rely on manual processes. Moving to eTAX early not only grants automatic extensions but also makes compliance audits easier and reduces risk of rejected submissions.

Penalties for Late Filing in Hong Kong

Missing a tax deadline in Hong Kong is not a minor issue — the Inland Revenue Department (IRD) has strict enforcement rules to ensure compliance. Late filing, non-filing, or providing incomplete information can result in heavy financial consequences, surcharges, and even prosecution.

1. Late Filing of Tax Returns

• Fines and Additional Tax: The IRD may impose a fine plus “additional tax,” which is usually a surcharge of up to three times the tax underpaid.
  
• Estimated Assessments: If you fail to file, the IRD may issue an estimated assessment without deductions or allowances. This often results in a higher tax liability than if you had filed on time.
  
• Prosecution: Persistent non-compliance can lead to criminal prosecution, with penalties including imprisonment in severe cases.
  

2. Late Payment of Tax

Even if your tax return is filed, late payment attracts separate penalties:

• 5% surcharge on the unpaid amount immediately after the due date.
  
• A further 10% surcharge if tax remains unpaid six months later.
  

3. Failure to Notify Chargeability

If you become taxable but do not receive a return, you are still required to notify the IRD within 4 months of year-end. Failure to do so may result in:

• A penalty fine;
  
• Additional tax assessed;
  
• Prosecution for serious omissions.
  

4. Employer Filing Failures

Employers who do not submit BIR56A and IR56 forms by the deadline may face:

• Monetary penalties;
  
• Compliance reviews and investigations;
  
• Risk of being flagged in future employer audits.
  

Many penalties arise not because businesses deliberately avoid tax, but due to missed deadlines, disorganised records, or unfamiliarity with updated rules. With constant changes — like new supplementary forms and e-filing requirements — the risk of error is higher than ever.

Stay Ahead of Every Hong Kong Tax Deadline

Hong Kong’s tax system is simple in principle, but its filing rules and strict deadlines can catch taxpayers off guard. Whether you are an individual, employer, or company director, missing a date can lead to unnecessary penalties, estimated assessments, or compliance risks.

For the 2024/25 tax year, the key takeaway is preparation:

• Know your filing category and year-end code.
  
• Keep records organised and ready.
  
• Leverage eTAX to enjoy extensions and reduce paperwork.
  
• Stay informed about new rules — from FSIE and IP concessions to mandatory electronic filing.
  

Compliance is not just about avoiding fines — it is about building a sustainable business foundation.

At FastLane Group, we help businesses and individuals navigate Hong Kong’s evolving tax environment with confidence. From Profits Tax and Employer’s Returns to complex cross-border filings, our team ensures your submissions are timely, accurate, and aligned with the latest IRD requirements.

Contact FastLane today to simplify your tax filing, stay compliant, and focus on growing your business.

FAQs about Hong Kong Tax Deadlines

1. When are taxes due in Hong Kong?

• Individuals (BIR60): 1 month from issue date (usually 2 June), extended to 2 August for sole proprietors. eTAX filing grants an extra month.
  
• Profits Tax (BIR51/52/54): Deadlines depend on year-end code (2 May, 15 Aug, 17 Nov, or 2 Feb).
  
• Employers (BIR56A + IR56 forms): 1 month from issue (2 May 2025).
  

2. Do foreigners need to file Hong Kong taxes?

Yes — if you earn Hong Kong–sourced income. Salaries Tax applies to employment in Hong Kong, and Profits Tax applies to businesses carrying on operations in the city. Offshore income is generally exempt.

3. What happens if I miss the tax deadline?

The IRD may impose surcharges (5–15%), issue estimated assessments without deductions, and in serious cases prosecute. Penalties can reach three times the underpaid tax.

4. Can I get an extension to file?

Yes — eTAX filing grants an automatic 1-month extension. Companies with tax representatives may qualify for block extensions depending on year-end code. Loss-making companies often get the longest extensions (up to February the following year).

5. What documents should I prepare before filing?

• Individuals: income statements, MPF, loan interest, donation receipts.
  
• Companies: audited accounts, tax computations, supplementary forms.
  
• Employers: payroll records, IR56 forms.
  
• Property owners: tenancy agreements, rental records, rates receipts.
  

6. How can FastLane help with Hong Kong tax deadlines?

FastLane Group provides:

• Tax return preparation and e-filing for individuals and corporations.
  
• Compliance with updated IRD rules (FSIE, supplementary forms, iXBRL).
  
• Deadline tracking to prevent penalties.
  
• Advisory on deductions, offshore claims, and tax planning.