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Hong Kong Publishes Sample Profit Tax Returns for 2018/2019 Including New Transfer Pricing Disclosure Form and Other Supplementary Forms

The Hong Kong Inland Revenue Department has published sample profits tax returns for 2018/19, including several new supplementary forms that apply from the 2018/19 year. This includes a transfer pricing disclosure form that requires disclosures on:

  • Whether the taxpayer has transactions with non-resident associated persons, and their residence;
  • Whether the taxpayer is required to prepare a master and local file (previous coverage);
  • Whether the taxpayer has an advance pricing agreement with the Commissioner, and details of material changes, if any; and
  • Whether the taxpayer or a member of its group in Hong Kong has submitted a CbC report notification, and if not, details of the group's ultimate parent and surrogate parent (if any) must be provided (note - parent details provided in the form does not constitute a submission of a CbC notification).

Supplementary forms are also provided for the two-tiered profits tax rates, research and development expenditure, preferential tax regimes (e.g. professional reinsurers, captive insurers, corporate treasury centres, and aircraft leasing), and others.

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