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Completion of Profits Tax Returns and the Supplementary Forms

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Note: Blank tax return forms are not available for download from the Web site for completion. If you want to obtain a duplicate Tax Return, please click here. The specimen Return forms, Notes and Instructions and Pro forma computation that can be downloaded from this web page are saved in pdf format and can be viewed and printed by using the Adobe (R) Acrobat (R) Reader software.


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.

  1. Profits Tax Return - Corporations (BIR51)
  2. Profits Tax Return - Persons Other Than Corporations (BIR52)
  3. Profits Tax Return - In Respect Of Non-Resident Persons (BIR54)

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Supplementary Forms to Profits Tax Returns

With effect from 1 April 2019, 10 supplementary forms to Profits Tax Returns (BIRS1 to BIRS10) are introduced for you to report information on preferential regimes and tax incentives. The supplementary forms, being part of the return, should be filed together with the return. You are required to download the supplementary forms where applicable, fill the form electronically, print the filled form for signature, and submit the signed form with the tax return. Since built-in PDF viewer of some browsers (e.g. Google Chrome) may not be able to perform the validation check embedded in the fillable PDF form properly, please download the fillable PDF form to local drive, open and complete the form using Adobe Acrobat Reader. Below are the supplementary forms to Profits Tax Returns for download:

  1. Supplementary Form S1 - Person electing for two-tiered profits tax rates
  2. Supplementary Form S2 - Transfer pricing
  3. Supplementary Form S3 - Expenditure on research & development
  4. Supplementary Form S4 - Expenditure on energy efficient building installation
  5. Supplementary Form S5 - Ship-owner
  6. Supplementary Form S6 - Professional reinsurer
  7. Supplementary Form S7 - Authorized captive insurer
  8. Supplementary Form S8 - Qualifying corporate treasury centre
  9. Supplementary Form S9 - Qualifying aircraft lessor
  10. Supplementary Form S10 - Qualifying aircraft leasing manager

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Advice on Completion of Profits Tax Returns and the Supplementary Forms

(1) Notes and Instructions:
The relevant Notes and Instructions as follows are provided to assist taxpayers in completing the return and supplementary forms:-
  (a) Form BIR51
  (b) Form BIR52
  (c) Form BIR54 (printed on page 4 of BIR54)
(d) Supplementary Form S1 - Person electing for two-tiered profits tax rates (last page of the form)
(e) Supplementary Form S2 - Transfer pricing (pages 3-4 of the form)
(f) Supplementary Form S3 - Expenditure on research & development (pages 3-4 of the form)
(g) Supplementary Form S4 - Expenditure on energy efficient building installation (page 4 of the form)
(h) Supplementary Form S5 - Ship-owner (pages 5-6 of the form)
(i) Supplementary Form S6 - Professional reinsurer (page 4 of the form)
(j) Supplementary Form S7 - Authorized captive insurer (page 4 of the form)
(k) Supplementary Form S8 - Qualifying corporate treasury centre (pages 5-6 of the form)
(l) Supplementary Form S9 - Qualifying aircraft lessor (page 4 of the form)
(m) Supplementary Form S10 - Qualifying aircraft leasing manager (page 4 of the form)
  Details of the documents and information that should be submitted together with the return and supplementary 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.

 

Frequently Asked Questions & Answers on Completion of Profits Tax Returns and the Supplementary Forms