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On 1 April 2021, the Inland Revenue Department (IRD) will issue bulk profits tax returns to taxpayers for the year of assessment 2020/21. This alert draws your attention to the filing due dates for the 2020/21 profits tax returns and the requirement to notify the IRD of chargeability.
In addition, this alert also explains (i) what constitutes a non-Hong Kong resident person having a permanent establishment in Hong Kong and the tax implications thereof; and (ii) the requirements of certain categories of taxpayers to file supplementary forms together with their 2020/21 profits tax return.