EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
Recent Searches
2022/23 profits tax filing season will soon commence
On 3 April 2023, the Inland Revenue Department (IRD) will issue bulk profits tax returns to taxpayers for the year of assessment 2022/23.
This alert draws your attention to the filing due dates for the 2022/23 profits tax returns and the requirement to notify the IRD of chargeability to tax where applicable. In addition, effective from 1 April 2023, (i) the voluntary electronic filing of profits tax returns will no longer be confined to certain small corporations and businesses but apply to all kinds of taxpayers. Service providers including tax representatives engaged to sign and file a profits tax return either in paper form or electronically for and on behalf of their clients must obtain a confirmation of the same from clients; (ii) even if a tax return is filed in paper form, the supplementary forms and other forms that are required to accompany the return must be filed electronically; and (iii) small corporations and businesses will no longer be exempted from furnishing financial statements and tax computations when filing their tax returns.
Should you have any questions regarding the filing of your tax returns, the supplementary forms and other forms, please contact your tax executives.