The following companies are exempt from submitting audited accounts together with their profits tax return:
- Dormant companies as per the Companies Ordinance definition (defined as having "no relevant accounting transactions" during a financial year)
- Hong Kong branch of a foreign company, provided that the following information is supplied together with the return
- the place of incorporation of the foreign company
- whether the laws of that country require a statutory audit of the world-wide accounts of the company (foreign company which registration business in Hong Kong)
- whether that audit has been conducted and
- a brief summary of the financial and accounting records maintained by the Hong Kong branch.