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In general, limited companies incorporated in Hong Kong are required to prepare and audit financial statements annually and file these to the Inland Revenue Department ("IRD"). IRD normally issues Tax Return filing notifications to companies on the 1st of April every year. Companies must file their Tax Return within one month from the date of notification, though they can request for an extension with reference to different year end dates. There is no mandatory year-end date for Hong Kong companies, but 31 March and 31 December are the more common ones. For December year end cases, the filing deadline to IRD is August 15 whereas for March year end cases, the filing deadline is November 15.
For public listed companies, the reporting deadlines for the release of annual results announcements will be three months after the year end date of the financial year.
All limited companies are required to submit the audited financial statements to IRD. However, for certain small corporations with gross income for the basis period not exceeding HK$2,000,000, they may be exempted.
Groups of companies are required to prepare consolidated financial statements. HKFRS 10 permits a holding company not to prepare group accounts if it is itself a wholly-owned subsidiary, or is a partially-owned subsidiary of another entity at the end of its financial year. In addition, the ultimate or any intermediate parent of that entity produces consolidated financial statements available for public use, which comply with HKFRSs or IFRSs.
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If you have further queries, please contact Tannet
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
24 hours Hong Kong hotline：86-755- 36990589;
Email: mytannet@gmail.com
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