2.Click the name of officer/enquiry for further information. Initially it administered only one piece of legislation, the Inland Revenue Ordinance, which was enacted on 3 May 1947. 3.All data on this website are provided and updated by respective bureaux / departments and related organisations. Office Tel 187 8088. In other words, Hong Kong withholding tax is the portion of the payments withheld from the fees that must be paid to a non-resident. Inland Revenue Department uses 6 technology products and services including jQuery , Apache Server , and PHP, according to G2 Stack. This audit reviewwas carried out under a set of guidelines tabled in the Provisional Legislative Council by the Chairman of the Public Accounts Committee on 11 February 1998. This expert then confirms that the data you submit to the Inland Revenue Department (IRD) is accurate and fair. Hong Kong are required to furnish certain specific information Section 50AAK of the Inland Revenue Ordinance (IRO), codifying the Organisationfor Economic Co-operation and Development's approach (AOA) for attributing profits or losses to a PE in Hong Kong of a non-Hong Kong resident person, has been effective since the year of assessment 2019/20. Initially it administered only one piece of legislation, the Inland Revenue Ordinance, which was enacted on 3 May 1947. The IRD headquarters is based in the Revenue Tower in Wanchai. Business registration serves to notify the Inland Revenue Department of the establishment of a business in Hong Kong which may be subject to the payment of a tax on its profits. The OECD Transfer Pricing Guidelines (2017) are referenced in the Hong Kong transfer pricing ordinance and effectively adopted as guidance.

Hong Kong web directory provides valuable . Managing a huge obligation lige this in Hong Kong is a very important aspect of complying with the law, so companies outsource its filing. If an employee leaves Hong Kong permanently or for a long time, the employer needs to: Know the employee's exact expected date of departure. The Hong Kong Inland Revenue Department (HKIRD) will generally accept that an employment is a non-Hong Kong employment if all of the following three conditions are met: The contract of employment was negotiated and entered into, and is enforceable outside Hong Kong SAR.

Box 132, Hong Kong. The responsibilities of the Commissioner of the IRD includes overseeing the administration of the following ordinances in Hong Kong . Subscribe to the accounting and bookkeeping plan to prepare for an easy . Hong Kong: Issued Inland Revenue Ordinance (Amendment of Section 50A and Schedule 17D) Notice 2020 On 18 January 2021 , the Inland Revenue Department of Hong Kong (IRC)) announced amendments to Section 50A and Schedule 17D of the Inland Revenue Ordinance (IRO). AEOI Portal is a system designated by the Commissioner under Part 8A of the Inland Revenue Ordinance (Cap. Civil Service Burau 1 day ago. If your Hong Kong company is no longer conducting business, the Registrar will strike it off and dissolve it, making this process more out of control of the Company. Hong Kong Inland Revenue Department (the IRD) does not issue TIN for communication with the taxpayer. Applicable taxes differ depending on the activities and nature of the cryptocurrency. Some mainland 100% clients do . Hong Kong Tax The proposed relaxation of deduction of foreign taxes for profits tax purpose March 19, 2021 Issue 2 In brief The Inland Revenue (Amendment) (Miscellaneous Provisions) Bill 20211 (the Bill) was gazetted on March 19, 2021. In respect of individuals: Hong Kong Identity Card . Inland Revenue Department | 350 followers on LinkedIn. The term appeared again last week in guidelines that allow the Inland Revenue Department to strip charities of . Department news and history, publications and press releases, policies, tax information for businesses and individuals, public forms, electronic services, and tender notices. Unless otherwise stated, compliance information showed in this post is for a private limited company, which accounts for over 95% of new company registration in Hong Kong each year. TO You are required under section 51(1) of the Inland Revenue Ordinance (Cap. The Inland Revenue Department of Hong Kong is going to send employers the BIR56A and IR56B forms (usually by hard copy but you can also submit it by e-Filing or even your company's own filing software -with prior IRD approval) this coming 1st of April 2021. The above rates are the applicable salaries tax rates for the period from 1 April 2020 through 31 March 2021. profits tax is levied on non-corporate professional, trade or business income at a flat rate of 15%. Revenue Tower, 5 Gloucester Road, Wan Chai, Hong Kong. Email taxinfo@ird.gov.hk: Inland Revenue Department: Address Revenue Tower, 5 Gloucester Road, Wan Chai, Hong Kong. Tax exemption by the Hong Kong Inland Revenue Department The IRD uses four criteria to assess whether or not an organization is qualified for exemption: (a) purpose of "charity" Under this ordinance, charity is not equivalent to "voluntary" or "non-profit-making" organization. Its major services include provision of land and infrastructure, port and marine services, geotechnical services and environment and sustainability services. **Free of charge** *TIHK members only* The Inland Revenue Department (IRD) has been working at full steam to take forward a project on electronic filing (e-filing) of profits tax returns which will be implemented by two phases. It means that your financial statements have to be audited by a registered and certified public accountant outside your company. When a Hong Kong-resident company or individual makes specific types of payments to a non-resident entity for services rendered in Hong Kong, a certain portion of the payment must be withheld and paid to Hong Kong's Inland Revenue Department. The Inland Revenue Department of Hong Kong will review the status of the application for tax exemption of charities from time to time in order to ensure the stability of the requirements for charities in Hong Kong.

This amount is paid to Hong Kong's Inland Revenue Department. Topics referred to by the same term. Immigration Department; Independent Commission Against Corruption; Information Services Department; Inland Revenue Department; Innovation and Technology Bureau; Innovation and Technology Commission; Intellectual Property Department; Invest Hong Kong We aim to be an excellent tax administration that plays an important part in promoting Hong Kong's prosperity and stability. Hong Kong Company's law has stipulated that every company incorporated in Hong Kong, must file a Tax Return (it is also known as Profits Tax Return in Hong Kong) together with its audited accounts on a yearly basis with the Inland Revenue Department of Hong Kong ("IRD"). The Civil Engineering and Development Department ( CEDD) is a department of the Hong Kong government that reports to the Development Bureau. Besides our accounting services, Sleek is also experienced in offering auditing services for companies of various sizes and status. The company would need to organize the company accounts, and prepare them to be submitted to a . View job summary: Assistant Assessor Hong Kong. The Inland Revenue Department of Hong Kong (IRD) is responsible for tax collection in the jurisdiction. No. there are no unanswered enquiries from the Inland Revenue Department; there are no unsettled objections or appeals in respect of assessments already raised; all the annual returns have been filed. The Hong Kong Inland Revenue Department ("IRD") released its practice note, DIPN 55, regarding the research and development ("R&D") tax the Inland Revenue (Amendment) (No. The Inland Revenue Department was established on 1 April 1947. Such changes may also give rise to potential tax issues. Hong Kong, but only local Hong Kong expenditure may qualify for the enhanced deductions. In respect of individuals: Hong Kong Identity Card . No deduction is allowed in such scenario.

Understanding Setup for Hong Kong Inland Revenue Reporting. Remarks: 1.For those calling from places outside Hong Kong, please dial .

This feature satisfies the requirements of the Hong Kong Inland Revenue Department (IRD). Inland Revenue Department Hong Kong Entry Requirements: Candidates should (a) (i) have a Bachelor's degree in Accountancy from a Hong Kong university, or equivalent; or (a) (ii) be a registered… File two IR56G forms (or by electronic means) to Inland Revenue Department (IRD) one month before the employee's expected departure date. In combating tax evasion and avoidance, the Inland Revenue Department (IRD) of Hong Kong adopts the "Assess First, Review Later" approach as its assessment mechanism on tax returns and other supplementary information submitted by taxpayers while at the same time fully utilises advanced technology in selecting cases not subject to review and conducts automated assessment. Inland Revenue Hong Kong Contact Phone Number is : 187 8088 and Address is PO Box 28777, Gloucester Road Post Office, Hong Kong The Inland Revenue Department is also known as IRD which is a Hong Kong Government department. Office Tel 187 8088. . Bill payment for Hong Kong Export Credit Insurance Corporation. Inland Revenue Department Hong Kong DEPARTMENTAL INTERPRETATION AND PRACTICE NOTES NO. AEOI Portal is a system designated by the Commissioner under Part 8A of the Inland Revenue Ordinance (Cap. Documents. The main purpose is to facilitate the Hong Kong Inland Revenue Department's correct assessment of the employee's salary tax liabilities for the period of April 1st to March 31st of every year. 112) ("the Ordinance") for Financial Institutions to submit notifications and Financial Account Information Return ("the Return") to the Inland Revenue Department ("the Department"). The Inland Revenue Department (IRD) released the updated guidance on advance rulings, Department Interpretation and Practice Notes (DIPN) No. K C Chan said that the Government was not considering amending Section 60 of the Inland Revenue Ordinance (IRO).

Department of Inland Revenue is now part of HM Revenue & Customs. 13 (REVISED) PROFITS TAX TAXATION OF INTEREST Email taxinfo@ird.gov.hk. How to Manage Employer's Return in Hong Kong. 112) ("the Ordinance") for Financial Institutions to submit notifications and Financial Account Information Return ("the Return") to the Inland Revenue Department ("the Department"). 112) to make on this form a true and correct return of the Assessable Profits (or Accounting and tax collections are important in every country, and this is no exception in Hong Kong. Hong Kong tax - TIN [ 中文 ] Hong Kong tax - TIN. The Inland Revenue Department was established on 1 April 1947. Inland Revenue Department. Civil Service Burau (Hong Kong) Job Number: 44978 Department: Inland Revenue Department Job Title: Assistant Assessor Salary: Master Pay Scale Point 16 ($33,350) to Master Pay Scale Point 27. It serves under Ministry of Finance to collect taxes in Hong Kong.

The IRD notes the classes of crypto assets as Payment, Security or Utility Tokens. Hong Kong does not impose withholding tax on dividends and interest. File two IR56G forms (or by electronic means) to Inland Revenue Department (IRD) one month before the employee's expected departure date. 2) Ordinance 2019, which allow taxpayers to elect to be taxed on a fair value basis in respect of financial instruments accounted for in accordance with Hong Kong Financial Reporting Standard ("HKFRS") 9 / International Financial Reporting Standard ("IFRS") 9, apply. 展群CK ® clients are usually PRC entities and distribute dividend, interest or royalty fee to Hong Kong investment holding company. The department subsequently absorbed various elements of the Treasury, including the Estate Duty Office (in 1949), the Stamp Duty Office (1956), and responsibility . In the first phase, the existing eTax Portal will be enhanced by 2023, to enable more businesses to voluntarily e-file profits tax returns, together with their . Inland Revenue is now a part of Her Majesty's Revenue and Customs. Office Tel 187 8088.

They will also check whether the activities of charity are compatible with their objectives. The "TIN" shown on the Tax Return-Individuals and related Notice of Assessment is solely for login onto "eTAX" account and access to the e-services provided by the Inland Revenue Department. Section 70A and allowances claims, technical enquiries and leaving Hong Kong cases to assessment of Property Tax, Profits Tax, Salaries Tax and Personal Assessment The Inland Revenue Department (IRD) in Hong Kong is the government body which is responsible for overseeing the administration of taxes and duties. 123456. This is a Letter to the Tax Authority / Tax Office / Inland Revenue Department requesting tax relief and to postpone any deadline relating to tax filing, tax return, tax payment, objection or holdover due to Coronavirus.. To align with international practices, the IRD uses Hong Kong Identity (HKID) numbers and business registration numbers for that purposes. The amendments came into operation from 01 January 2021 and will We assist the Hong Kong entity to apply for Certificate of Resident / Tax Resident Certificate and reply the enquries letters that raised by the Inland Revenue Department . Civil Service Burau (Hong Kong) Job Number: 44978 Department: Inland Revenue Department Job Title: Assistant Assessor Salary: Master Pay Scale Point 16 ($33,350) to Master Pay Scale Point 27. These include IPv6 and Mobile Optimized. Inland Revenue Department. IRD revises guidance on advance rulings . View Notes - e_dipn13.pdf from ACCOUNTING 100 at HKU. The commissioner of the Inland Revenue Department needs to issue a receipt of the "Notice of No Objection". Address Revenue Tower, 5 Gloucester Road, Wan Chai, Hong Kong. : IN ANY COMMUNICATION PLEASE QUOTE THE FILE NUMBER BELOW FILE NO. • For foreign withholding tax paid on an income by a Hong Kong resident person in a treaty jurisdiction, double tax relief is only available by means of a tax credit under section 50 of the Inland Revenue Ordinance (IRO) if the same income is subject to profits tax in Hong Kong. Company audit is a process every Hong Kong company has to go through every year. Email taxinfo@ird.gov.hk. The last provision means that non-residents may not commence operating a business while in Hong Kong, and thus will be refused permission for business registration by the Inland Revenue Department unless it can be proven that the business began operation while they were outside of Hong Kong. Join to Connect Inland Revenue Department of HKSAR Government . Notify Inland Revenue Department promptly of change of address (Press Release - October 5, 2021) HKSAR Government responds to inclusion of Hong Kong in EU's watchlist on tax co-operation . How to deregister your company. Address Revenue Tower, 5 Gloucester Road, Wan Chai, Hong Kong. The guidelines were agreed between the Clients may refer to our Hong Kong Tax alert - 24 March 2021 (2021 Issue No. Only certain types of payments are levied on this type of tax.

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