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Q:
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What are the conditions should a corporation satisfy in order to use the Internet filing service?
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A:
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A corporation must satisfy all the following conditions in the relevant year:
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1.
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Gross income for the basis period does not exceed HK$2,000,000;
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2.
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Not paid or accrued to a non-resident person any sum for the use of intellectual property specified in section 15(1)(a), (b) or (ba) of the Inland Revenue Ordinance (“IRO”) or for the assignment of performer's right in section 15(1)(bb) of the IRO;
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3.
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Not have any deemed assessable profits pursuant to section 20AE, 20AF, 20AX and/or 20AY of the IRO;
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4.
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Not a ship-owner;
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5.
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Assessable Profits / Adjusted Loss do not include any interest, profits/loss arising from "short / medium term debt instruments" (issued before 1 April 2018) as defined in section 14A(4) of the IRO, any profits / loss of a professional reinsurer, an authorized captive insurer, a specified insurer or a licensed insurance broker company as defined in section 14AB of the IRO, any qualifying profits / loss of a qualifying corporate treasury centre as defined in section 14C of the IRO, any qualifying profits / loss of a qualifying aircraft lessor or a qualifying aircraft leasing manager as defined in section 14G of the IRO, or any qualifying profits / loss of a qualifying ship lessor or a qualifying ship leasing manager as defined in section 14O of the IRO;
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6.
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Not claim any tax relief pursuant to an arrangement for avoidance of double taxation specified under section 49(1) or 49(1A) of the IRO;
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7.
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Not obtained an advance ruling on any of its tax matter in relation to that year of assessment;
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8.
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Not claim debt treatment for an arrangement as "an originator" or "a bond-issuer" of a specified alternative bond scheme under section 40AB of and Schedule 17A to the IRO;
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9.
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Not claim deduction for distribution arising from a regulatory capital security; and
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10.
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Not a permanent establishment in Hong Kong of a non-Hong Kong resident person.
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Q:
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Can I file corporation’s PTR for any year of assessment through the Internet?
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A:
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No. Only PTR staring from year of assessment 2015/16 can be filed through the Internet.
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Q:
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What kind of services relating to the Internet filing of PTR are available?
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A:
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The following four services are available:
Uploading of Data files for Supplementary Form S1, S2, S3 and S4 to PTR;
Completion of PTR;
Submission of PTR;
Viewing of PTR.
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Q:
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Can I upload PTR through the Internet while submit supplementary forms in paper form or vice versa?
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A:
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No. You must either submit both through the Internet or in paper form.
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Q:
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Is my company required to submit the audited financial statements after filing PTR through the Internet?
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A:
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Only small corporations/business can use Internet filing. It is not necessary to submit the supporting documents, but you must still retain those as it may be requested for audit purposes later.
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