Accounting date code for Hong Kong tax

Accounting Date Code Hong Kong

The accounting date code is a two-digit numeric code on a Hong Kong profits tax return. It shows the month a company's accounting year ends. This code sets the basis period for the year of assessment, which then fixes the filing deadline.

Hong Kong Tax Accounting Date

The Inland Revenue Department links the profits tax return deadline to the company's accounting date. A business with a 31 March year end (code 03) has a different basis period and filing schedule from one closing its books on 31 December (code 12). Each year, the Inland Revenue Department issues a block extension letter. This letter sets staggered filing dates based on these codes.

IRD Accounting Date Code

On Form BIR51, the taxpayer enters the accounting date code in the designated box. Code 03 means an accounting period ending 31 March. Code 12 means 31 December. The Inland Revenue Department uses this code to decide if the return follows the standard deadline or gets a block extension.

Profits Tax Accounting Date

The code is essential. The year of assessment runs from 1 April to 31 March. A company with a 31 March accounting date aligns its basis period directly with the year of assessment. Any other accounting date creates a basis period that straddles two assessment years. The Inland Revenue Department adjusts the filing accordingly.

Year of Assessment Hong Kong

Take the year of assessment 2024-25. It covers profits from 1 April 2024 to 31 March 2025. A company with accounting date code 12 (31 December) files for the basis period 1 January 2024 to 31 December 2024 on the same return. The accounting date code on Form BIR51 tells the Inland Revenue Department which basis period applies.

You will find the accounting date code on Form BIR51, Form BIR52 and Form BIR54. If a company changes its accounting reference date, it must notify the Inland Revenue Department. The change alters the accounting date code and therefore the tax filing deadline. The Business Tax Portal and Tax Representative Portal both require the correct code for electronic submission.