You can learn more about types of tax returns, normal issue dates and how to obtain a duplicate tax return here. The Business Registration Certificate (BRC) is a document which states the particulars of a company, and is a requirement for conducting business for a Hong Kong company. It is an 8-digit sequence at the front of your BR certificate number (e.g. 1 January - 31 March : 15 November. 559) [For applications filed on or after 4.4.2003] Trade Marks Decisions (Cap. An “non-Hong Kong employment” may requires regular traveling between Hong Kong and outside Hong Kong, only part of the Employment Income were sourced in Hong Kong. Public Transport in Hong Kong. For Hong Kong company registration you can check www.sinovantage.com When owners of real estate in Hong Kong file their tax reports, the Rating and Valuation Department (RVD) uses the data they provide to assess how much different types of Hong Kong properties cost. Motor Vehicle First Registration Tax. This year KPMG has adopted a “Double-50” approach, including 100 outstanding fintech companies on the list. This documents shows that the company is valid and registered within the Inland Revenue Department. Road and Traffic Conditions & Special Arrangements. Income that arises in or is derived from Hong Kong via employment, office or pension are subject to Hong Kong Salaries Tax.. Services rendered in Hong Kong for visits longer than 60 days in any fiscal year are subject to salaries tax, even if the individual is not ordinarily resident in Hong Kong. Salaries tax capped at 15 percent Property tax of 15 percent Here are the taxes which Hong Kong does not impose: No sales tax or VAT No withholding tax No capital gains tax No tax on dividends No estate tax Free Trade Port The areas of our China operations Tax shall be paid on or before the due date as stipulated in the notice of assessment. You can find the property tax rates applicable to different years of assessment here. You can also download forms here. Hong Kong follows a territorial basis of taxation i.e. You can also file the return electronically by opening a personal … Tax Return Filing, Enquiry & Payment . Know more about the consequences of not paying tax on time. The salaries tax rate in Hong Kong stands between 2% and 17%, while the profit tax rate for corporations accounts for 8.25% … Copyright 2000-2014. The Inland Revenue Department may not recognize as visits periods spent in Hong Kong (SAR) where the individual is based in or has a place of residence in Hong Kong (SAR) (regardless of the actual number of days spent in Hong Kong (SAR)). Tax ID number … Find out how to make supplements to or rectify errors in paper tax returns already submitted. Object against an Assessment & Apply for Holding Over of Provisional Tax, Notice: This form is NOT intended for handling enquiries or complaints. (a) @ represents any one or two capital letters of the alphabet. Tax Identification Number (TIN) Hong Kong Inland Revenue Department (the IRD) does not issue TIN for communication with the taxpayer. For income to be subject to tax, it must fall within one of the specific heads of taxation. Moreover, an individual who is Hong Kong resident and has paid mainland China’s Individual Income Tax on an income from employment taxed in Hong Kong, tax credit to set off his Hong Kong’s salaries tax is available to claim. Download and complete Tax file number – application or enquiry for individuals living outside Australia (PDF, 339KB) This link will download a file. Profits above that amount will be subject to the tax … In so doing, … Only three direct taxes are imposed and there are generous allowances and deductions which can reduce your taxable amount. Filing of profits tax returns which are issued in bulk in early April: Accounting year end dates : Deadline. Hong Kong has an Already Low 16.5% Corporate Tax First off, the taxes in Hong Kong are already low. 22222222-&&&-&&-&&-&). Tax identification numbers (TINs) Tax identification numbers This section provides an overview of domestic rules in the jurisdictions listed below governing the issuance, structure, use and validity of Tax Identification Numbers ("TIN") or their functional equivalents. You will often be able to receive a full tax … Taxpayers with an AGI greater than the specified threshold can use the Free File Fillable Forms , the e-file by purchasing commercial software , or the Authorized IRS e-file Provider Locator Service . In Australia in order to work we need to pay tax. There is no capital gains tax, withholding tax on dividends, or GST/VAT in Hong Kong… Colombia. Germany. Check out the types of deductions that you might be eligible for under salaries tax and personal assessment. State Administration of Taxation . Learn more about the different methods of payment. Reproduction, adaptation, distribution, dissemination or making available of As per the Hong Kong Companies Ordinance, all incorporated companies in Hong Kong are required to have an annual audit of their financial statements performed by a Hong Kong practicing Certified Public Accounts (CPA). The territory includes Hong Kong Island, Kowloon, and the New Territories, as well as 235 outlying islands. Tax Identification Number (Identifikationsnummer) 99999999999 (11 characters) Tax Assessment or ID Number letter Greece CPR Number 999999999 (9 characters) Tax Completeness Status Document, Tax Refund Status HK ID In order to fulfill the requirements of filing profit tax in Hong Kong, you need to know about Hong Kong’s tax year. Debtors may accrue debts by making errors on their tax returns or failing to file their returns. The RVD then publishes their findings on their website. China converted You can find out more about these methods. - 6 - 5% or 10%), the profits, being the mark-up, derived by the Hong Kong company for its services, were wholly assessable. Check out the tax rates of salaries tax and personal assessment applicable to different years of assessment, standard rates and annual income levels at which salaries taxpayers enter the standard rate zone. Any local profit that arises from a business or trade in Hong Kong is liable for profit tax, payable to the Inland Revenue Ordinance (IRO) of Hong Kong. Check out the information about the payment of tax in dispute and interest on tax held-over. Property Tax. Dutiable Commodities. Don't send us your original documents as they may not be returned to you. Check out the ways to settle your tax or stamp duty payment in person. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. If you are doing business with Hong Kong companies and would like to know more information about them, the Hong Kong Companies Registry offers online search services on companies registered in Hong Kong. This is further illustrated by the friendly regulations for businesses and corporations, with the Hong Kong government’s eyes set on lowering corporate tax … Clarification was sought from the IRD as to the tax … Unless otherwise indicated, the materials found on this site are subject to The amount of Hong Kong tax charged shall not exceed the amount charged by applying the standard rate to the net total income, i.e. The Inland Revenue Department will take immediate actions to recover the tax from tax-defaulters. For example: an individual who resides in Hong Kong and is employed under “non-Hong Kong Employment” leaves Hong Kong frequently to work at an office location in Shenzhen at 9:00 a.m. and return to Hong Kong on the … 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”). var cnzz_protocol = (("https:" == document.location.protocol) ? " Stamp Duty. Not all individuals have a TFN, and a business has both a TFN and an Australian Business Number (ABN). Profit tax is an income tax that is chargeable to businesses carried on in Hong Kong. Hong Kong’s Tax Year. Compare this to most “first world” nations that are in the 30% and up range, Hong Kong isn’t too shabby right out of the box. Hong Kong Tax. Find out how to make supplements to or rectify errors in tax returns already submitted through the Internet. It is also commonly known in Malay as Nombor Rujukan Cukai Pendapatan or No. Figure out when to go, how much you'll spend and how to get around town. For Hong Kong company registration you can check www.sinovantage.com This tax concession dramatically enhances the competitiveness of Hong Kong in attracting private equity funds to set up and be managed in Hong Kong, undoubtedly at the expense of the Cayman Islands which … A tax file number (TFN) is free and identifies you for tax and superannuation purposes. Tax identification number (TIN) Federal Central Tax Office. You can download a form here. There is no general income tax in Hong Kong (SAR). You can settle your tax, stamp duty payment and purchase Tax Reserve Certificates electronically via the Internet, by phone or ATM. Notice of Copyright and Disclaimer All rights reserved. It is free to apply for a TFN. Request for Taxpayer Identification Number (TIN) and Certification Form 4506-T; Request for Transcript of Tax Return Form W-4 ... within a specified threshold can electronically file their tax return for free using Free File. River Delta in Southern part of China to the North, including Beijing ...... [More]. Services rendered in Hong Kong for visits longer than 60 days in any fiscal year are subject You will also need to provide certified copies of documents to prove your identity. No income tax is levied if this source is earned outside its borders. The key features of Hong Kong’s salary tax are as follows: As per the Inland Revenue Ordinance(IRO), it is levied on the “assessable profits” of legal persons whether it is a sole proprietorship, corporations, partnerships, trustees or persons carrying on any trade, profession or business in Hong Kong. Generally, the recipient's country for tax and mailing purposes will be the same. the purchase of machinery or computers). The three taxes are: Profits tax for the first HK$2 million of profits of corporations is 8.25 percent. What is Hong Kong profit tax & how much do I pay? For assistance, please contact the 24-hour Helpdesk at, Continuing Education, Vocational Training & Elderly Learning, Highlights, Public Participation & Contacts, Accounts of the Government and Government Reports, Public Housing and Subsidised Home Ownership Schemes, Road and Traffic Conditions & Special Arrangements, Vehicle Licence, Registration & Examination, Support for Innovation, Design & Technology, Quality Assurance, Product Standards & Accreditation, Equal Opportunities & Privacy Protection on Employment, Cancellation of Business Registration & Deregistration, Working, Study and other Visa Requirements, Automated Immigration Clearance (e‑Channel) Service for Visitors, Login eTAX Account to view Tax Position and Messages, Open eTAX Account OR Complete eTAX Account Registration Process, Calculate tax liability under Salaries Tax and Personal Assessment, Know more about my Entitlement to Allowance, Pay Tax, Business Registration Fees and Stamp Duty, Purchase Tax Reserve Certificates (TRCs) by Electronic Payment Methods, Board of Review (Inland Revenue Ordinance), Election for Personal Assessment and Claim for Deductions & Allowances, Application for Holdover of Provisional Tax, Notice of Objection / Application for Revision of Assessment, Request for Employer's Return of Remuneration and Pensions, Claim for Exemption from Payment of Fee and Levy under Section 9 of the Business Registration Ordinance, File Property Tax Return for Jointly Owned Properties (BIR57), Calculate Tax Liability under Salaries Tax and Personal Assessment, View eTAX Account, Tax Position and Messages. (b) # is the check digit which has 11 possible values from 0 to 9 and A . Find out what you need to know to lodge objections or appeals against your assessment. India. All rights reserved. Find out more about settling your tax and stamp duty payment, and purchasing Tax Reserve Certificates by post. If the name on the customs release document is different from the name we have on file, your goods may be held up at the border. Tax ID number or Chinese ID card number. These sums are the estimated taxable income on the basis of which the property tax … Such people can call the organization’s main phone number. In 2018, the tax rate for the first year of assessment was lowered to help reduce the taxpaying burdens for SMEs. An Income Tax Number or Tax Reference Number is an unique identifying number used for tax purposes in Malaysia. This 60-day exemption is only available for employments and does not apply to … Particularly, Hong Kong imposes only three basic taxes: corporate income tax, personal income tax and property tax. If you can negotiate the appropriate provision in your lease agreement, your apartment rent may be used to offset some of your salaries tax … Ultimately, the ending date of the fiscal year for Hong Kong is March … Post your completed form … Hong Kong Essential Info Figure out when to go, how much you'll spend and how to get around town. Driving … Forms I.R.6104 and I.R.6169 can be obtained through: (i) downloading from the eTAX web site (ii) Fax-A-Form Service at 2598 6001 (iii) calling in person at IRD office in Wan Chai the information available within this web site for commercial use is strictly IMPORTANT DEADLINES ON PROFITS TAX FILING IN HONG KONG . Not all individuals have a TFN, and a business has both a TFN and an Australian Business Number (ABN). Taxpayers encounter financial difficulties in paying their tax on time may apply to the Inland Revenue Department for payment of tax by instalments. A foreign tax credit is available to Hong Kong expat residents with respect to income that is subject to double tax in all of the double tax agreements entered into by Hong Kong. Taxpayers with an AGI (Adjusted Gross Income) within a specified threshold can electronically file their tax return for free using Free File. The debtor would then need to contact the IRS to find a solution. To align with international practices, the IRD uses Hong Kong Identity (HKID) numbers and business registration numbers for that purposes. However, to effectively operate this tax system, the Hong Kong tax system relies heavily on a high level of understanding and compliance from businesses and taxpayers. prohibited unless prior written authorization is obtained from the Company. A Hong Kong company may avoid a local tax liability in Hong Kong even though management and control are situated in Hong Kong. Under Article 108 of the Basic Law of Hong Kong, the taxation system in Hong Kong is independent of, and different from, the taxation system in mainland China.In addition, under Article 106 of the Hong Kong Basic Law, Hong Kong enjoys independent public finance, and no tax revenue is handed over to the Central Government in China. This means that there are numerous deductions from which your business will be able to benefit. How Do You File a Hong Kong Tax Return? You can use a simple Tax Calculator provided here to calculate your tax liability under salaries tax or personal assessment. The list is found in Appendix A of Guide T4061, NR4 - Non-Residents Tax Withholding, Remitting, and Reporting. Every business operating in Hong Kong requires a Hong Kong business registration number (BRN). The Internal Revenue Service may do a tax return for such debtors and send a letter about the debt. Dual Citizenship and Taxes Canadian taxation obligations are based on your residency status and not based on your citizenship… Surcharges will be imposed on tax in default if the applications are approved. Copyright 2000-2014. Hong Kong is world renowned for its simple and low tax regime, making it one of the most business-friendly jurisdictions in the world. Unlike flat corporate tax rate, Hong Kong’s salary tax rates follow a progressive tax rate system. Not only should businesses understand when and how to pay taxes, but also that each company’s accounts must be reviewed and audited by a Hong Kong Certified Public Accountant. This documents shows that the company is valid and registered within the Inland Revenue Department. Creating a new corporation. Fail to file profits tax return or inform the IRD about the tax chargeability on time Subject to a maximum fine of HK$10,000 plus treble the amount of tax undercharged Should you require any assistance in relation to filing of Hong Kong tax return, please do not hesitate to contact us. Disclaimer My GovHK < back . https://" : " http://");document.write(unescape("%3Cspan id='cnzz_stat_icon_1256883720'%3E%3C/span%3E%3Cscript src='" + cnzz_protocol + "s11.cnzz.com/z_stat.php%3Fid%3D1256883720%26show%3Dpic' type='text/javascript'%3E%3C/script%3E")); China Tax & Investment Consultants Ltd Furthermore, full exemption of the China’s tax is available to claim for a Hong Kong resident works … … It is often advantageous to start a business in Hong Kong due to the straightforward taxation system, as well as it’s low tax rates and it’s territorial concept for profits tax for Hong Kong companies. Both corporate and personal tax rates of Hong Kong are considered as one of the lowest in the world. HKID number: The standard format of HKID number is @ 123456(#). Road Network & Facilities. Tax Identification Number (Identifikationsnummer) 99999999999 (11 characters) Tax Assessment or ID Number letter: Greece: CPR Number: 999999999 (9 characters) Tax Completeness Status Document, Tax Refund Status Document or Certificate of issued TIN: Hong Kong: HK ID Number: A9999999(9/A) (8 characters) ID Card: India: Permanent Account Number … 22222222- & & - & & & - & & - & & - & & - )... This documents shows that the company is valid and registered within the Revenue! Revenue Agency program accounts is issued by the Inland Revenue Department different years of assessment here are to! Responsibilities for any loss or damage...... [ more ] as well as outlying! Identifies you for tax and stamp duty payment and purchase tax Reserve hong kong tax file number electronically via Internet. Actions to recover the tax year is in a fiscal year starting in April, not the typical year. 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