Here is a case study when the company was incorporated on July 13th, 2013 – check what the Inland Revenue Department requires (IRD) once you company is in due to file the Tax Return (“PTR”).
For the financial year ended date, you can choose 31st March or 31st December (there are normally used in HK). The difference is, for second PTR and thereafter, the submission deadline is 15th November or 15th August. Please refer to the table as follow:
Please refer to the table as follow:
|Financial year end as at||Tax filing date||Documents ready for audit|
|1) 31st March 2015||15th Nov 2015||Not later than 1st Sept 2015|
|2) 31st December 2014||15th August 2015||Not later than 1st June 2015|
|3) Other dates than (1) or (2) e.g. 30th June 2014||30th April 2015||Not later than mid of Feb 2015|
What you need to do:
1. Prepare the management account and working for the period 11 July 2013 (date of incorporation) to the financial year ended date (i.e. 31st March 2014 or 31st December 2014);
2. Prepare all accounting documents (e.g. bank statements, sales and purchases invoice, receipt and payment vouchers etc.) since date of incorporation and up to the financial year ended date (i.e. 31st March 2014 or 31st December 2014);
Normally, Inland Revenue Department (IRD), the Hong Kong Tax Authority, will issue Profits Tax Return to the company which incorporated over 18 months. The first Profits Tax Return should be submitted within THREE months from the date of issuance.
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