Only Registered Occupational Retirement Schemes are Non-reporting Financial Institutions
Webpage relating to occupational retirement schemes has been created to clarify that only occupational retirement schemes registered under the Occupational Retirement Schemes Ordinance (Cap. 426) qualify as non-reporting financial institutions. You may click here for details.
(May 23, 2017)
Tax Obligations of Taxpayers and Employers
(May 18, 2017)
AEOI Account Registration and Reporting by Investment Funds and Umbrella Funds
Webpage relating to AEOI Portal has been updated to provide investment funds and umbrella funds further guidance on registration of AEOI Account and reporting requirements. You may click here for details.
The IRD recently received enquiries about Tax Returns - Individuals issued by the IRD and the post office boxes shown on the reply envelopes. Please note that details of the post office boxes used by the IRD are available on our website. Members of the public may visit the IRD website's "Post Office Boxes of IRD" page under "Contact Us" or click the above link for verification.
Chapters 11 and 12 of the Guidance for Financial Institutions have been updated to include the procedures that reporting financial institutions must apply in respect of entity accounts if there is a change of circumstances that causes the financial institutions to have reason to know that the self-certification or other documentation associated with the account is incorrect or unreliable.
The Inland Revenue Department today issued the Departmental Interpretation and Practice Notes No. 53 (“Tax Treatment of Regulatory Capital Securities”) which sets out the Department’s interpretation and practice on the application of the profits tax provisions relating to regulatory capital securities in the Inland Revenue (Amendment) (No. 2) Ordinance 2016. The provisions clarify the profits tax treatment of regulatory capital securities issued by financial institutions to comply with Basel III capital adequacy requirements.