IRD issues profits tax, property tax and employer’s returns for 2022-23

The Hong Kong government has published a press statement on behalf of the Inland Revenue Department in connection with profits tax, property tax, and employer’s returns for 2022-23. While most information in the press statement is likely to be of little relevance, we would like to point out three key statements of the IRD, namely:
(1) From 2023 on, ALL corporations and businesses irrespective their size and income must „submit their profits tax returns together with all supporting documents (including financial statements and profits tax computations)“;
(2) All supporting forms must be filed electronically under eTAX;
(3) All supporting documents such as financial statements or tax computations must be submitted in iXBRL (inline eXtensible Business Reporting Language) format.
Instructions for the filings are included in the statement.