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華師話你知 – 稅務


The Inland Revenue Department has issued the new Profits Tax Return for 2019/2020. 


Please note the deadlines for submitting the returns have been extended. In particular, the deadline for Profits Tax Return with N Code accounting dates is extended to 30 June 2020


New Changes in the New Profits Tax Return –Corporations (BIR 51) :
•    Item 1.3 : state the amount of loss brought forward from prior year.
•    Item 3.3 : deemed assessable profits under sections 20AX and 20AY of Inland Revenue Ordinance in relation to tax-exempt funds and tax-exempt special purpose entities held by the funds.
•    Item 3.9 : state whether they were permanent establishments in Hong Kong of non-Hong Kong resident persons and transactions with other parts of the non-Hong Kong resident person. 
•    Item 7.5 : election to align the tax treatment of financial instruments with the accounting treatment and have the related profits assessed in accordance with sections 18I to 18L of IRO. Please also refer to the circular issued by the IRD on Fair Value Accounting (https://www.ird.gov.hk/eng/tax/bus_fva.htm) 
•    Item 8.1.3 : state whether taxpayer had made any value creation contributions in Hong Kong in relation to the intellectual property of a non-Hong Kong resident associate. Please also refer to the Departmental Interpretation and Practice Notes No. 55 on the DEMPE functions. 
•    Item 9.2 : indicate attachment of supplementary form S2 for transactions with non-resident associated persons / other parts of the non-Hong Kong resident person.
•    Item 10.7  : state the amount of profits from transactions in assets of a class specified in Schedule 16C of IRO and incidental transactions exempted from payment of Profits Tax.
•    Item 10.8 : state the amount of profits from transactions in relation to specified securities exempted from payment of Profits Tax.


The IRD has issued the FAQ at https://www.ird.gov.hk/eng/faq/cpt.htm .


However, if you have any further questions about the completion of the Profits Tax Return 2019/2020, please send us your questions before 30th May 2020 so that we can follow up with the Inland Revenue Department accordingly. 
 

[content_hk] =>

 

華師話你知 – 稅務


The Inland Revenue Department has issued the new Profits Tax Return for 2019/2020. 


Please note the deadlines for submitting the returns have been extended. In particular, the deadline for Profits Tax Return with N Code accounting dates is extended to 30 June 2020


New Changes in the New Profits Tax Return –Corporations (BIR 51) :
•    Item 1.3 : state the amount of loss brought forward from prior year.
•    Item 3.3 : deemed assessable profits under sections 20AX and 20AY of Inland Revenue Ordinance in relation to tax-exempt funds and tax-exempt special purpose entities held by the funds.
•    Item 3.9 : state whether they were permanent establishments in Hong Kong of non-Hong Kong resident persons and transactions with other parts of the non-Hong Kong resident person. 
•    Item 7.5 : election to align the tax treatment of financial instruments with the accounting treatment and have the related profits assessed in accordance with sections 18I to 18L of IRO. Please also refer to the circular issued by the IRD on Fair Value Accounting (https://www.ird.gov.hk/eng/tax/bus_fva.htm) 
•    Item 8.1.3 : state whether taxpayer had made any value creation contributions in Hong Kong in relation to the intellectual property of a non-Hong Kong resident associate. Please also refer to the Departmental Interpretation and Practice Notes No. 55 on the DEMPE functions. 
•    Item 9.2 : indicate attachment of supplementary form S2 for transactions with non-resident associated persons / other parts of the non-Hong Kong resident person.
•    Item 10.7  : state the amount of profits from transactions in assets of a class specified in Schedule 16C of IRO and incidental transactions exempted from payment of Profits Tax.
•    Item 10.8 : state the amount of profits from transactions in relation to specified securities exempted from payment of Profits Tax.


The IRD has issued the FAQ at https://www.ird.gov.hk/eng/faq/cpt.htm .


However, if you have any further questions about the completion of the Profits Tax Return 2019/2020, please send us your questions before 30th May 2020 so that we can follow up with the Inland Revenue Department accordingly. 
 

[17] =>

 

华师话你知 – 税务


The Inland Revenue Department has issued the new Profits Tax Return for 2019/2020. 


Please note the deadlines for submitting the returns have been extended. In particular, the deadline for Profits Tax Return with N Code accounting dates is extended to 30 June 2020


New Changes in the New Profits Tax Return –Corporations (BIR 51) :
•    Item 1.3 : state the amount of loss brought forward from prior year.
•    Item 3.3 : deemed assessable profits under sections 20AX and 20AY of Inland Revenue Ordinance in relation to tax-exempt funds and tax-exempt special purpose entities held by the funds.
•    Item 3.9 : state whether they were permanent establishments in Hong Kong of non-Hong Kong resident persons and transactions with other parts of the non-Hong Kong resident person. 
•    Item 7.5 : election to align the tax treatment of financial instruments with the accounting treatment and have the related profits assessed in accordance with sections 18I to 18L of IRO. Please also refer to the circular issued by the IRD on Fair Value Accounting (https://www.ird.gov.hk/eng/tax/bus_fva.htm) 
•    Item 8.1.3 : state whether taxpayer had made any value creation contributions in Hong Kong in relation to the intellectual property of a non-Hong Kong resident associate. Please also refer to the Departmental Interpretation and Practice Notes No. 55 on the DEMPE functions. 
•    Item 9.2 : indicate attachment of supplementary form S2 for transactions with non-resident associated persons / other parts of the non-Hong Kong resident person.
•    Item 10.7  : state the amount of profits from transactions in assets of a class specified in Schedule 16C of IRO and incidental transactions exempted from payment of Profits Tax.
•    Item 10.8 : state the amount of profits from transactions in relation to specified securities exempted from payment of Profits Tax.


The IRD has issued the FAQ at https://www.ird.gov.hk/eng/faq/cpt.htm .


However, if you have any further questions about the completion of the Profits Tax Return 2019/2020, please send us your questions before 30th May 2020 so that we can follow up with the Inland Revenue Department accordingly. 
 

[content_cn] =>

 

华师话你知 – 税务


The Inland Revenue Department has issued the new Profits Tax Return for 2019/2020. 


Please note the deadlines for submitting the returns have been extended. In particular, the deadline for Profits Tax Return with N Code accounting dates is extended to 30 June 2020


New Changes in the New Profits Tax Return –Corporations (BIR 51) :
•    Item 1.3 : state the amount of loss brought forward from prior year.
•    Item 3.3 : deemed assessable profits under sections 20AX and 20AY of Inland Revenue Ordinance in relation to tax-exempt funds and tax-exempt special purpose entities held by the funds.
•    Item 3.9 : state whether they were permanent establishments in Hong Kong of non-Hong Kong resident persons and transactions with other parts of the non-Hong Kong resident person. 
•    Item 7.5 : election to align the tax treatment of financial instruments with the accounting treatment and have the related profits assessed in accordance with sections 18I to 18L of IRO. Please also refer to the circular issued by the IRD on Fair Value Accounting (https://www.ird.gov.hk/eng/tax/bus_fva.htm) 
•    Item 8.1.3 : state whether taxpayer had made any value creation contributions in Hong Kong in relation to the intellectual property of a non-Hong Kong resident associate. Please also refer to the Departmental Interpretation and Practice Notes No. 55 on the DEMPE functions. 
•    Item 9.2 : indicate attachment of supplementary form S2 for transactions with non-resident associated persons / other parts of the non-Hong Kong resident person.
•    Item 10.7  : state the amount of profits from transactions in assets of a class specified in Schedule 16C of IRO and incidental transactions exempted from payment of Profits Tax.
•    Item 10.8 : state the amount of profits from transactions in relation to specified securities exempted from payment of Profits Tax.


The IRD has issued the FAQ at https://www.ird.gov.hk/eng/faq/cpt.htm .


However, if you have any further questions about the completion of the Profits Tax Return 2019/2020, please send us your questions before 30th May 2020 so that we can follow up with the Inland Revenue Department accordingly. 
 

[18] =>

 

華師話你知 – 稅務


The Inland Revenue Department has issued the new Profits Tax Return for 2019/2020. 


Please note the deadlines for submitting the returns have been extended. In particular, the deadline for Profits Tax Return with N Code accounting dates is extended to 30 June 2020


New Changes in the New Profits Tax Return –Corporations (BIR 51) :
•    Item 1.3 : state the amount of loss brought forward from prior year.
•    Item 3.3 : deemed assessable profits under sections 20AX and 20AY of Inland Revenue Ordinance in relation to tax-exempt funds and tax-exempt special purpose entities held by the funds.
•    Item 3.9 : state whether they were permanent establishments in Hong Kong of non-Hong Kong resident persons and transactions with other parts of the non-Hong Kong resident person. 
•    Item 7.5 : election to align the tax treatment of financial instruments with the accounting treatment and have the related profits assessed in accordance with sections 18I to 18L of IRO. Please also refer to the circular issued by the IRD on Fair Value Accounting (https://www.ird.gov.hk/eng/tax/bus_fva.htm) 
•    Item 8.1.3 : state whether taxpayer had made any value creation contributions in Hong Kong in relation to the intellectual property of a non-Hong Kong resident associate. Please also refer to the Departmental Interpretation and Practice Notes No. 55 on the DEMPE functions. 
•    Item 9.2 : indicate attachment of supplementary form S2 for transactions with non-resident associated persons / other parts of the non-Hong Kong resident person.
•    Item 10.7  : state the amount of profits from transactions in assets of a class specified in Schedule 16C of IRO and incidental transactions exempted from payment of Profits Tax.
•    Item 10.8 : state the amount of profits from transactions in relation to specified securities exempted from payment of Profits Tax.


The IRD has issued the FAQ at https://www.ird.gov.hk/eng/faq/cpt.htm .


However, if you have any further questions about the completion of the Profits Tax Return 2019/2020, please send us your questions before 30th May 2020 so that we can follow up with the Inland Revenue Department accordingly. 
 

[content_en] =>

 

華師話你知 – 稅務


The Inland Revenue Department has issued the new Profits Tax Return for 2019/2020. 


Please note the deadlines for submitting the returns have been extended. In particular, the deadline for Profits Tax Return with N Code accounting dates is extended to 30 June 2020


New Changes in the New Profits Tax Return –Corporations (BIR 51) :
•    Item 1.3 : state the amount of loss brought forward from prior year.
•    Item 3.3 : deemed assessable profits under sections 20AX and 20AY of Inland Revenue Ordinance in relation to tax-exempt funds and tax-exempt special purpose entities held by the funds.
•    Item 3.9 : state whether they were permanent establishments in Hong Kong of non-Hong Kong resident persons and transactions with other parts of the non-Hong Kong resident person. 
•    Item 7.5 : election to align the tax treatment of financial instruments with the accounting treatment and have the related profits assessed in accordance with sections 18I to 18L of IRO. Please also refer to the circular issued by the IRD on Fair Value Accounting (https://www.ird.gov.hk/eng/tax/bus_fva.htm) 
•    Item 8.1.3 : state whether taxpayer had made any value creation contributions in Hong Kong in relation to the intellectual property of a non-Hong Kong resident associate. Please also refer to the Departmental Interpretation and Practice Notes No. 55 on the DEMPE functions. 
•    Item 9.2 : indicate attachment of supplementary form S2 for transactions with non-resident associated persons / other parts of the non-Hong Kong resident person.
•    Item 10.7  : state the amount of profits from transactions in assets of a class specified in Schedule 16C of IRO and incidental transactions exempted from payment of Profits Tax.
•    Item 10.8 : state the amount of profits from transactions in relation to specified securities exempted from payment of Profits Tax.


The IRD has issued the FAQ at https://www.ird.gov.hk/eng/faq/cpt.htm .


However, if you have any further questions about the completion of the Profits Tax Return 2019/2020, please send us your questions before 30th May 2020 so that we can follow up with the Inland Revenue Department accordingly. 
 

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華師話你知 – New Changes in the New Profits Tax Return –Corporations (BIR 51)

 

華師話你知 – 稅務


The Inland Revenue Department has issued the new Profits Tax Return for 2019/2020. 


Please note the deadlines for submitting the returns have been extended. In particular, the deadline for Profits Tax Return with N Code accounting dates is extended to 30 June 2020


New Changes in the New Profits Tax Return –Corporations (BIR 51) :
•    Item 1.3 : state the amount of loss brought forward from prior year.
•    Item 3.3 : deemed assessable profits under sections 20AX and 20AY of Inland Revenue Ordinance in relation to tax-exempt funds and tax-exempt special purpose entities held by the funds.
•    Item 3.9 : state whether they were permanent establishments in Hong Kong of non-Hong Kong resident persons and transactions with other parts of the non-Hong Kong resident person. 
•    Item 7.5 : election to align the tax treatment of financial instruments with the accounting treatment and have the related profits assessed in accordance with sections 18I to 18L of IRO. Please also refer to the circular issued by the IRD on Fair Value Accounting (https://www.ird.gov.hk/eng/tax/bus_fva.htm) 
•    Item 8.1.3 : state whether taxpayer had made any value creation contributions in Hong Kong in relation to the intellectual property of a non-Hong Kong resident associate. Please also refer to the Departmental Interpretation and Practice Notes No. 55 on the DEMPE functions. 
•    Item 9.2 : indicate attachment of supplementary form S2 for transactions with non-resident associated persons / other parts of the non-Hong Kong resident person.
•    Item 10.7  : state the amount of profits from transactions in assets of a class specified in Schedule 16C of IRO and incidental transactions exempted from payment of Profits Tax.
•    Item 10.8 : state the amount of profits from transactions in relation to specified securities exempted from payment of Profits Tax.


The IRD has issued the FAQ at https://www.ird.gov.hk/eng/faq/cpt.htm .


However, if you have any further questions about the completion of the Profits Tax Return 2019/2020, please send us your questions before 30th May 2020 so that we can follow up with the Inland Revenue Department accordingly.