TIHK News

Inland Revenue Department – 2024-25 Profits Tax Filing

The Inland Revenue Department (IRD) issues 2024/25 Profits Tax Returns to corporations and partnership businesses today.

To keep pace with the development in international tax administration and information technology, the Department is actively promoting tax digitalization.  Taxpayers are encouraged to file electronically their Profit Tax Returns together with the supporting documents (including financial statements and tax computations) in iXBRL format on a voluntary basis.

To facilitate taxpayers in preparing the required iXBRL data files, the IRD is providing the IRD Taxonomy Package (the Taxonomy) and the IRD iXBRL Data Preparation Tools (including the Template Tool and Tagging Tool, collectively known as the Tools), which are available for download from the IRD website free of charge.  The Taxonomy and the Tools have been updated and enhanced this year.  The major enhanced features include:

• enhancing the English Tagging Tool (Windows Version) to accept the import of financial statements in Microsoft Excel format; and
• enriching the selection of currency types to facilitate taxpayers in generating the iXBRL data files for financial statements and tax computations denominated in a more variety of currencies.

More details on electronic filing of Profits Tax Returns and iXBRL filing can be found on the IRD’s webpages at www.ird.gov.hk/e_epf and www.ird.gov.hk/e_ixbrl respectively.  For enquiries in relation to the iXBRL filing requirements and the use of the Tools, you may contact the IRD at ixbrl_reporting@ird.gov.hk, or access e-Appointment to book a specific timeslot to make enquiries via phone.

The IRD will launch three interconnected portals, namely Individual Tax Portal, Business Tax Portal (BTP) and Tax Representative Portal (TRP), in July 2025 to provide electronic services including enhanced electronic filing services, block extension service and other electronic services for individuals, businesses and tax representatives.  The BTP and TRP will be pre-launched for businesses and tax representatives to register their dedicated accounts starting from late April 2025.  Details of the BTP and TRP will be announced on the IRD’s website.

The IRD also aims at implementing full adoption of electronic Block Extension Scheme starting from April 2026.  It follows that tax representatives are required to submit electronically their block extension applications or notifications through the block extension service under the TRP in respect of their clients’ Profits Tax Returns with effect from the year of assessment 2025/26.  Tax representatives are encouraged to lodge block extension applications or notifications electronically this year so as to enhance the efficiency, accuracy and reliability of block extension requests. More details in relation to the Block Extension Scheme can be found on the IRD’s webpage on Block Extension Scheme for Tax Representatives.

Nearly 400 Leading Multinational Enterprises in Hong Kong! Innovating HongKong – Global Talent Carnival Offers Over 10,000 Jobs for International Recruits!

BY INNOVATING HONG KONG

[PHOTO/INNOVATING HONG KONG]

Benefiting from a series of favourable policies continuously launched by the Hong Kong Government, from 2023 to the end of September 2024, a total of 380,000 applications have been received under the various talent admission schemes, with nearly 240,000 approved. 196,000 people have successfully arrived in Hong Kong, and 144,000 of their spouses and children have been motivated to come to settle in Hong Kong together. Figures show that the average median monthly income is about $50,000, with 25% of them earning more than $100,000 a month. Hong Kong’s job market is extremely attractive, both in terms of income level and choice of industry! However, finding a job that meets the visa requirements is not easy, and suitable positions are relatively scarce. In this regard, the annual recruitment event, Innovating Hong Kong – Global Talent Carnival 2025 Spring, will be held on 29-30 March at AsiaWorld-Expo. The event is organised by Innovating Hong Kong, with Hong Kong Talent Engage as the strategic partner, specially co-sponsored by Hong Kong Gathering Talents Limited and jointly presented by Liepin. Nearly 400+ renowned companies from Hong Kong, foreign countries and the Mainland will be on site, offering quality jobs across a wide range of industry sectors. We cordially invite interns, fresh local and non-local graduates, as well as working people who are looking for new career opportunities to join us in this event of future and dreams, to explore new opportunities in the workplace and to start a new chapter in your life.

Programme Code: 20250417

Date: 17 April 2025 (Thursday)

Time: 6:30 pm – 7:30 pm

Speakers: Mr. Peter Kung, Past President of The Taxation Institute of Hong Kong

                   Dr. Thomas S.T. So JP, Chairman of eBRAM International Online Dispute Resolution Centre

Language: Cantonese

Venue: Room 201, 2/F, 15 Hennessy Road, Duke of Windsor Social Service Building, Wanchai, Hong Kong

CPD Hours: 1

Seat: 100

Click here to register

Programme Code: 20250415

Date: 15 April 2025 (Tuesday)

Time: 6:30 pm – 8:00 pm

Speakers: Ms. Kathleen Wang, Tax Partner, PwC Hong Kong

                   Mr. Jeffrey Ip, Senior Manager, Tax Reporting and Strategy practice, PwC Hong Kong

                   Ms. Terri Yu, Manager, Corporate Tax group, PwC Hong Kong

Language: Cantonese

Venue: TIHK Office, 21/F, Kam Sang Building, 255-257 Des Voeux Road Central, Hong Kong

CPD Hours: 1.5

Seat: 100

Click here to register

Programme Code: 20250408

Date: 08 April 2025 (Tuesday)

Time: 6:00 pm – 7:30 pm

Speakers: Mr. Caesar Wong, Managing Director of China Advisory Services, Acclime Advisory Services

Language: Cantonese

Venue: Room 2201, 22/F Leighton Centre, 77 Leighton Road, Causeway Bay, Hong Kong

CPD Hours: 1.5

Seat: 30

Click here to register

Programme Code: 20250318

Date: 18 March 2025 (Tuesday)

Time: 6:30 pm – 7:30 pm

Speakers:

Ms. Lusan Hung, Head, Budget and Tax Policy Unit, Financial Secretary’s Office, HKSAR Government

Ms. Winnie Shek, President, TIHK

Ms. Anita Tsang, Honorary Secretary, TIHK

Language: Cantonese

Venue: Live webinar

CPD Hours: 1

Seat: 100

Click here to register!

Programme Code: 20250325

Date: 25 March 2025 (Tuesday)

Time: 6:30 pm – 8:30 pm

Speakers: 華盟·税紀雲行政總裁：陳振銘先生

Language: Mandarin

Venue: TIHK Office, 21/F, Kam Sang Building, 255-257 Des Voeux Road Central, Hong Kong

CPD Hours: 2

Seat: 100

Click here to register

Introduction:

The Hon Paul Chan Mo-po, Financial Secretary of the Government of the HKSAR, will deliver the 2025/26 Budget on 26 February 2025.  While the external environment has turned more challenging recently, it is important for the government to come up with measures that support and enhance the future sustainable development of Hong Kong, solidifying our path toward sustainability through fiscal and tax strategies.

In this seminar, Ms. Winnie Shek, the President of TIHK, Ms. Ada Ma and Mr. Desmond Wong, the Council Members of TIHK, will discuss the highlights of the 2025/26 Budget and share their insights with our members.

Programme Code: 20250305

Date: 05 三月 2025 (Wednesday)

Time: 12:30 pm – 1:30 pm

Language: Cantonese

Venue: Live webinar

Speakers:

Ms. Winnie Shek, President, TIHK

Ms Ada Ma, Council Member, TIHK

Mr. Desmond Wong, Council Member, TIHK

CPD Hours: 1

Seat: 100

Click here to register

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