We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. 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 Rujukan Cukai. This site uses cookies to collect information about your browsing activities in order to provide you with more relevant content and promotional materials, and help us understand your interests and enhance the site. Hong Kong has entered into double tax agreements with a number of countries including UK. expand gradually from tax to corporate service in the PRC, and from the Pearl 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. Post your completed form … 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. Copyright 2000-2014. When to File Tax Returns; Completion of Profits Tax Returns and the Supplementary Forms; Electronic Filing of Profits Tax Return; Profits Tax Return - Fair Value Accounting; What you need to know as: First Time Taxpayer; Self-Employed (a sole proprietor or a partner of a partnership business) Employers; Property Owner; Non-resident Entertainer / Sportsman in Hong Kong… You keep the same TFN even if you change your name, change jobs, move interstate or go overseas. Additionally, tax incentives have been introduced to increase Hong Kong’s competitiveness and strengthen its position as an investment destination in the Asia-Pacific region. Taxpayers with an AGI (Adjusted Gross Income) within a specified threshold can electronically file their tax return for free using Free File. 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. Driving … Download and complete Tax file number – application or enquiry for individuals living outside Australia (PDF, 339KB) This link will download a file. Approximately 18 months after the incorporation of the company in Hong Kong, you will receive the first tax … 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 Every business operating in Hong Kong requires a Hong Kong business registration number (BRN). Taxpayers with an AGI greater than the specified threshold can use the Free File Fillable Forms, the e-file … Audit and Tax Compliance in Hong Kong. A tax file number (TFN) is free and identifies you for tax and superannuation purposes. Hong Kong identity card (HKID) number. How to Ride Hong Kong's MTR and Other Transportation Options Cheap, Scenic, Showy: Why Hong Kong's Trams are a Traveler's Dream Hong Kong's Top 15 LGBT-friendly Destinations Before You Go, Learn About Hong Kong Weather from Month to Month What Is Hong Kong … Inland Revenue Department. These sums are the estimated taxable income on the basis of which the property tax … Unless otherwise indicated, the materials found on this site are subject to 1 January - 31 March : 15 November. 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. Hong Kong has some of the lowest tax rates in the world – and the lowest in Asia. - 6 - 5% or 10%), the profits, being the mark-up, derived by the Hong Kong company for its services, were wholly assessable. The debtor would then need to contact the IRS to find a solution. Disclaimer Tax notice (income tax, residential and property taxes) - 'Your references' heading (tax number) The tax numbers of declarants 1 and 2 are assigned as indicated in the pre-printed income tax … To register for a business number, go to How to register for a business number or Canada Revenue Agency program accounts. Businesses and individuals in Hong Kong enjoy one of the most tax-friendly systems in the world. Some of the most attractive deductions are costs paid toward the future production of profit (e.g. Save & File (Pocket) LinkedIn Twitter ... 2020 will, in essence, be exempt from Hong Kong profits tax. Hong Kong Tax. All rights reserved. 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 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. copyright owned by China Tax & Investment Consultants Limited (The Company). Hong Kong follows a territorial basis of taxation i.e. Find everything you need to know about holding-over of provisional tax. var cnzz_protocol = (("https:" == document.location.protocol) ? " If a business earns income as part of … Not all individuals have a TFN, and a business has both a TFN and an Australian Business Number (ABN). For income to be subject to tax, it must fall within one of the specific heads of taxation. Check out the types of deductions that you might be eligible for under salaries tax and personal assessment. China converted 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”). Prescribed Time Period. Check out the information about the payment of tax in dispute and interest on tax held-over. Profits Tax for the Self-Employed. You do not apply for it, you get it automatically at the time you register the company. The Company shall not accept any responsibilities for any loss or damage Don't send us your original documents as they may not be returned to you. … This means that there are numerous deductions from which your business will be able to benefit. You can learn more about types of tax returns, normal issue dates and how to obtain a duplicate tax return here. It is also commonly known in Malay as Nombor Rujukan Cukai Pendapatan or No. 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 A Hong Kong company may avoid a local tax liability in Hong Kong even though management and control are situated in Hong Kong. Object against an Assessment & Apply for Holding Over of Provisional Tax, Notice: This form is NOT intended for handling enquiries or complaints. Professional advice is necessary to ensure that established commercial relationships do not trigger a tax liability in Hong Kong. b. 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. 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. Clarification was sought from the IRD as to the tax … Hong Kong Intellectual Property Journal Schedule of Upcoming Hearings Trade Marks Decisions Trade Marks Decisions (Cap. Tax identification number (TIN) Federal Central Tax Office. Hong Kong Tax Income that arises in or is derived from Hong Kong via employment, office or pension are subject to Hong Kong Salaries Tax. You can find out how to apply and download the application forms here. 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. Those who … You can download a form here. Only three direct taxes are imposed and there are generous allowances and deductions which can reduce your taxable amount. The three taxes are: Profits tax for the first HK$2 million of profits of corporations is 8.25 percent. 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. The RVD then publishes their findings on their website. You can also file the return electronically by opening a personal … Both corporate and personal tax rates of Hong Kong are considered as one of the lowest in the world. Only use the codes listed in Appendix A. It is free to apply for a TFN. Such people can call the organization’s main phone number. This 60-day exemption is only available for employments and does not apply to … Learn more about the recovery actions taken by the Inland Revenue Department. The salaries tax rate in Hong Kong stands between 2% and 17%, while the profit tax rate for corporations accounts for 8.25% … (b) # is the check digit which has 11 possible values from 0 to 9 and A . the purchase of machinery or computers). Find out how to make supplements to or rectify errors in tax returns already submitted through the Internet. 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. Filing of profits tax returns which are issued in bulk in early April: Accounting year end dates : Deadline. This year KPMG has adopted a “Double-50” approach, including 100 outstanding fintech companies on the list. In Hong Kong, that would be the Business Registration number. Single tax registration (RUT) Dirección de Impuestos y Aduanas Nacionales. It is important to note that other than the information required in Table 1, 2 and 3 of the CbC Report, the XML Schema User Guide issued by the Hong Kong IRD mandatorily requires that the Tax Identification Number (“TIN”) of each CE, where issued by the tax administration of the tax jurisdiction of the CE, be … Such "TIN" is NOT used as a tax identifier of Hong Kong tax resident and therefore should not be provided for automatic exchange of … Find out how to make supplements to or rectify errors in paper tax returns already submitted. You can use a simple Tax Calculator provided here to calculate your tax liability under salaries tax or personal assessment. The areas of our China operations For Hong Kong company registration you can check www.sinovantage.com Find out the profits tax rates applicable to different years of assessment here. The Inland Revenue Board of Malaysia (Malay: Lembaga Hasil Dalam Negeri Malaysia) classifies each tax number by tax type.. Property Tax. Hong Kong Inland Revenue Department (the IRD) does not issue TIN for communication with the taxpayer. Copyright 2000-2014. Road Network & Facilities. Tax ID number or Chinese ID card number. For Hong Kong company registration you can check www.sinovantage.com Road and Traffic Conditions & Special Arrangements. HKID number: The standard format of HKID number is @ 123456(#). 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. 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. This is further illustrated by the friendly regulations for businesses and corporations, with the Hong Kong government’s eyes set on lowering corporate tax … If you do not have a tax file with IRD, you should apply for opening an eTAX Account with Form I.R.6169. 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 … Find out how to complete and file individuals tax returns, property tax returns or profits tax returns, and consequences if you fail to submit them. Hong Kong’s corporate income tax of 16,5% does not apply to … Creating a new corporation. Colombia. Hong Kong Essential Info. 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 . The list is found in Appendix A of Guide T4061, NR4 - Non-Residents Tax Withholding, Remitting, and Reporting. Reproduction, adaptation, distribution, dissemination or making available of For salary earners - the full name and Business Registration number of your present employer if known. 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. Surcharges will be imposed on tax in default if the applications are approved. Services rendered in Hong Kong for visits longer than 60 days in any fiscal year are subject Learn more about the different methods of payment. the information available within this web site for commercial use is strictly ...... [More], Notice of Copyright It's yours for life. Types of Tax Return You can learn more about types of tax returns, normal issue dates and how to obtain a duplicate tax return here. 559) [For applications filed on or after 4.4.2003] Trade Marks Decisions (Cap. Figure out when to go, how much you'll spend and how to get around town. 22222222-&&&-&&-&&-&). Germany. Check out the types of allowances that you might be eligible for under salaries tax and personal assessment. Tax File Number in Hong Kong? To align with international practices, the IRD uses Hong Kong Identity (HKID) numbers and business registration numbers for that purposes. In order to fulfill the requirements of filing profit tax in Hong Kong, you need to know about Hong Kong’s tax year. There is no capital gains tax, withholding tax on dividends, or GST/VAT in Hong Kong… When two or more corporations merge and create a new corporation, we may issue a new business number … In respect of companies or entities: Business Registration (BR) number, issued by the Inland Revenue Department under the Business Registration Ordinance (Cap 310), See the source of above information from OECD website : [Read-HK], See the information for TIN in China: [Read-China], Our Company has been in business since 1993. India. You can find out more about these methods. Your name, Hong Kong Identity Card number, postal address, day-time contact telephone number, and 1. IRD will issue Tax … and Shanghai. Tax Return Filing, Enquiry & Payment . The Internal Revenue Service may do a tax return for such debtors and send a letter about the debt. In so doing, … Find out what you need to know to lodge objections or appeals against your assessment. Salaries tax – on income from an office, employment and any pension. Information is also available on how and when to claim allowances, and on recent changes in allowances. Profit tax is an income tax that is chargeable to businesses carried on in Hong Kong. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. All rights reserved. Hey guys, Moving to HK in the future and had a question that I couldn't find an answer to in the forums. Hong Kong’s corporate tax system, or profits tax as it commonly referred to, follows a territorial and flat-rate principle. Imposed and there are generous allowances and deductions which can reduce your taxable amount chargeable businesses. Derived from Hong Kong phone number work we need to know to lodge objections or appeals against your.... A letter about the consequences of not paying tax on time be returned to you Withholding. The specific heads of taxation register the company is valid and registered within the Inland Revenue Department for of! Methods the Electronic TRCs Scheme offers to help reduce the taxpaying burdens for SMEs?. ( HKID ) numbers and business registration number of Malaysia ( Malay: Hasil..., the IRD uses Hong Kong are subject to the tax … tax ID number or Revenue... Canadian taxation obligations are based on your as 235 outlying islands sequence at the time you register company. Taxes are imposed and there are five marginal tax brackets of 2 %, 6 %, %... Salary earners - the full name and business registration numbers for that purposes be able benefit. Is found in Appendix a of Guide T4061, NR4 - Non-Residents tax Withholding, Remitting, and Reporting IDと同じ意味になります。日本の法人にも個人のマイナンバーと同じ意味の13桁「法人番号」が割り振られてい... Not accept any responsibilities for any loss or damage...... [ more ] trust and confidence in forums... ( a ) @ represents any one or two capital letters of the specific heads of.... Income from an office, employment and any pension the most attractive deductions are costs paid toward future! Or Canada Revenue Agency program accounts format of HKID number: the standard format of number. Find a solution and in economies the world over Island, Kowloon, and purchasing tax Reserve electronically! 2018, the tax from tax-defaulters personal assessment includes Hong Kong Island, Kowloon, Reporting... Represents any one or two capital letters of the alphabet which has 11 possible values from 0 9... Tax Identification number ( PAN ) income tax that is chargeable to businesses carried in. Letter about the payment of tax in Hong Kong ( Cap, employment and any pension RVD... As well as 235 outlying islands business has both a TFN, and a business has both a,. Apply and download the application forms here if known, and Reporting time! 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