FEATURES

Institute at 2025 IFAC Forum

CE & R Margaret Chan spoke at the 2025 IFAC Forum, highlighting our value proposition.

Engaging with prominent media

President Edward Au hosted an engaging luncheon with media, sharing our goals for 2025.

Institute's mentorship cohort launch

The 2025-26 Mentorship Programme launched with over 150 participants attended the ceremony.

MORE HIGHLIGHT

Connecting our members

Aimed to foster stronger connections between the Institute and its members, our Council and management engaged with nearly 40 members at the President’s luncheon.

INDUSTRY UPDATES

AFRC's Strategic Priorities for 2025-2027

The Accounting and Financial Reporting Council (AFRC) has announced its Strategic Priorities for 2025-2027, which are anchored on Regulation, Governance, Development, and Organisational Effectiveness. These priorities aim to enhance financial reporting quality, address industry challenges, and foster trust in Hong Kong's capital markets and the accounting profession.

Inland Revenue Department – 2024/25 Profits Tax filing

The IRD issued 2024/25 Profits Tax Returns (PTRs) on 1 April 2025. Taxpayers are encouraged to participate in voluntary e-filing of their PTRs together with the supporting documents (including financial statements and tax computations) in iXBRL format.

To facilitate the preparation of iXBRL data files, the IRD is providing the IRD Taxonomy Package and the IRD iXBRL Data Preparation Tools free of charge. Major enhancements for this year include accepting the import of financial statements in Microsoft Excel format into the English Tagging Tool, and enriching the selection of currency types.

The IRD will launch three interconnected portals, namely Individual Tax Portal, Business Tax Portal (BTP) and Tax Representative Portal (TRP), in July 2025 to provide a wide range of electronic services. The BTP and TRP is now pre-launched for account registration. Register your dedicated BTP and TRP accounts now.

Useful links:
www.ird.gov.hk/e_epf (e-Filing)
www.ird.gov.hk/eng/tax/bus_ixbrl (iXBRL Filing)

www.ird.gov.hk/eng/tax/bus_taxportal (Pre-launch for BTP & TRP)

Electronic Filing of Employer’s Return - easy, secure and environment-friendly

The Employer’s Return of Remuneration and Pensions (Form BIR56A) for the year ended 31 March 2025 were issued on 1 April. Employers are required to complete and file the return to the Inland Revenue Department (IRD) within one month, along with the Form IR56B for reporting of remuneration paid to employees.

Employers can file the employer’s returns online by using "iAM Smart+" or eTAX account. The IR56 Forms Preparation Tool can be used to prepare the data file of annual Form IR56B for uploading to the IRD via either Online Mode or Mixed Mode. For those using Mixed Mode submission, after uploading of data file(s), employers only need to submit the duly signed paper form BIR56A and the cover page (i.e. the first page) of the Control List generated by the system to complete the submission process. In addition, to tie in with employers in preparing early for the submission, the IR56 Forms Preparation Tool can be used to prepare the data file of annual IR56B starting from 1 March each year.

Please visit the IRD website for details.

Good MPF Employer Award

The Mandatory Provident Fund Schemes Authority is inviting applications and nominations for its Good MPF Employer Award 2024-25. Interested employers may apply online by 15 July.

HKIRA Investor Relations Awards

The Hong Kong Investor Relations Association (HKIRA) has announced the nominees for its 11th Investor Relations Awards 2025. Register to vote online from now until 13 May.

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