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What to Do If You Receive a Hong Kong Tax Form?

  • monmonq1
  • Dec 15, 2024
  • 2 min read

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Receiving a tax form from the Hong Kong Inland Revenue Department (IRD) can seem daunting, especially for new business owners or expatriates. Here’s a step-by-step guide on what to do:


1. Understand the Type of Tax Form

The IRD issues different tax forms depending on your role and income source. Common forms include:

  • BIR60: Individual Tax Return.

  • BIR54: Employer’s Return (for reporting employees’ income).

  • BIR51: Profits Tax Return (for companies).

  • BIR52: Property Tax Return (for rental income)


Each form has specific reporting requirements, so verify which one you’ve received.


2. Check the Deadline

  • The deadline is typically 1 month from the date of issuance.

  • Companies with audited accounts can request an extension via their tax representative.

  • Avoid penalties by filing on time — late submission incurs fines or prosecution.


3. Gather Required Documents

To complete the tax form, collect the following:

- For Individuals:

  • Salary slips.

  • Rental income receipts (if applicable).

  • Deduction proofs (e.g., charitable donations, MPF contributions).

- For Businesses:

  • Audited financial statements.

  • Bank statements and invoices.

  • Expense receipts and payroll records.


4. Complete the Form

Fill out the form accurately, ensuring all details are correct. Common fields include:

  • Income Details: Report income earned during the assessment year.

  • Deductions: Declare eligible deductions (e.g., home loan interest, business expenses).

  • Tax Relief: Apply for allowances like spouse or child allowances.


5. File the Tax Form

  • Online Filing: Use the eTAX system for faster processing.

  • Manual Submission: Mail the completed form to the IRD or drop it off at a service center.


6. Pay Any Taxes Due

  • After filing, you’ll receive a Notice of Assessment outlining your tax liability.

- Payment Methods:

  • Online banking.

  • ATM transfer.

  • Cheque to the IRD.

  • Installments: If unable to pay in full, request a payment plan from the IRD.


7. Seek Professional Help if Needed

Tax regulations in Hong Kong can be complex. For businesses or individuals with multiple income streams, it’s wise to consult:

  • A certified public accountant (CPA).

  • A tax advisor familiar with Hong Kong regulations.


8. Keep Records

Maintain copies of filed forms, receipts, and supporting documents for at least 7 years, as required by the IRD.


9. Respond Promptly to IRD Queries

If the IRD requests additional information or an audit, respond quickly to avoid penalties.

By following these steps, you can handle your Hong Kong tax obligations efficiently and stay compliant with local regulations!


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