Etax hong kong

These returns should be filed within one month upon the issue of the notice an extension of 1 month to be given automatically if the return if filed electronically. With the looming deadline, rookies in the workplace, and even seasoned tax payers, etax hong kong, may have questions regarding the reporting and the paperwork. Let us walk you through a brief introduction to salaries tax and points to note when filing etax hong kong return.

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Etax hong kong

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Alternatively, etax hong kong, you can use the government's tax reserve certificates to save up for tax payments. Let us etax hong kong you through a brief introduction to salaries tax and points to note when filing your return. For details about deductions, allowances and tax reduction, please refer to the allowances, deductions and tax rate table published by the IRD.

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Taxpayers are required to complete and send the tax return back to the Inland Revenue Department IRD within 1 month from the date of issue of the return i. For sole-proprietors of unincorporated businesses, the deadline for submission is extended to 2 August An extension of 1 month will be given automatically if the return is filed electronically. If you file your Tax Return - Individuals on time, the information provided in your tax return will assist the Assessor to prepare your assessment correctly and your claims for deductions for tax allowances, approved charitable donations and home loan interest etc. Taxpayers who have earned no income or of an amount below their allowance entitlements do not have to pay tax.

Etax hong kong

The implementation framework of the new deduction is as follows:. Domestic premises are a building or any part of such a building that is not prohibited by or pursuant to any law or any specified instrument e. Government lease, occupation permit, etc. If a qualifying tenancy is procured in respect of any domestic premises and car parking space, and the car parking space is not sublet, the car parking space will be taken to be part and parcel of the domestic premises for the purposes of the deduction. Qualifying Tenancy To qualify for the deduction, a tenancy or a sub-tenancy in writing must be procured in respect of any domestic premises. The tenancy must be stamped within the meaning of the Stamp Duty Ordinance Cap. The deduction ceiling for a tenancy is the maximum amount of deduction, to be reduced:.

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The salaries, wages, commissions, bonuses and discretionary rewards received by employees, the "letting value" of the accommodation provided by employers, as well as pensions received by retirees etc. Any balance is used to offset the provisional tax for the next tax year. Tax reduction is not a permanent measure, but the government has been offering this over the past few years. You are not required to submit evidence in support of the claim together with the tax return. Tax payments can be paid in two instalments: the first payment is usually due in January; the second, in April. If you qualify for certain deductions and allowances, tax is only levied on the amount after deductions and allowances are taken out. The salaries, wages, commissions, bonuses and discretionary rewards received by employees, the "letting value" of the accommodation provided by employers, as well as pensions received by retirees etc. Simply put, individuals employed to work in job positions created in or derived from Hong Kong are required to pay salaries tax. Both employers and employees are required to file the assessments to the IRD separately. Tax reduction is not a permanent measure, but the government has been offering this over the past few years. Why do I have to pay a provisional salaries tax? Therefore, employees are usually taxed at the progressive rate.

It offers users a simpler, quicker, more secure and environment-friendly way to comply with the tax law. As a continuous effort to provide quality services to the public, the department today August 14 launched the revamped eTAX portal with more user-friendly applications to help users meet their tax obligations more easily. With the adoption of responsive web design in the new platform, the applications on eTAX bring to you not only efficiency, effectiveness and convenience when conducting electronic transactions on desktop computers or mobile devices, but also the sense of receiving better quality of service and user experience.

For the majority of the working population, the tax calculated based on the progressive tax rates are lower than that of the standard rate. If you qualify for certain deductions and allowances, tax is only levied on the amount after deductions and allowances are taken out. Three types of direct taxes are levied in accordance with the Inland Revenue Ordinance, namely salaries tax, profits tax and property tax. This would be adjusted after the income and tax payable of the tax year is assessed in the next year. Check the information upon receiving it. For each tax year, you are entitled to a basic allowance automatically available without the need to claim it. For the majority of the working population, the tax calculated based on the progressive tax rates are lower than that of the standard rate. Expenses on self-education, approved charitable donations, mandatory contributions to recognised retirement schemes, home loan interest, elderly residential care expenses, qualifying premiums paid under Voluntary Health Insurance Scheme Policy, Qualifying Annuity Premiums and Tax Deductible MPF Voluntary Contributions, Domestic Rents Deduction etc. Simply put, individuals employed to work in job positions created in or derived from Hong Kong are required to pay salaries tax. Tax reduction is not a permanent measure, but the government has been offering this over the past few years. A guide to filing tax returns Tax filing. For each tax year, you are entitled to a basic allowance automatically available without the need to claim it. You should, however, retain that evidence for verification when required.