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PRESS RELEASE
(Source : Government Information Centre)
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Individual Tax Returns for 2001/02 issued
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The Commissioner of Inland Revenue, Mrs Lau Mak Yee-ming,
Alice, today (May 2) introduced the Individual Tax Return for 2001/02,
and announced the Inland Revenue Department (IRD)'s work plan for
2002/03 as well as the tax revenue collected in 2001/02.
This year's return is largely the same as that of last year. Information
relating to the completion of the Return as well as common errors
and common enquiries on completion of the Return is now available
on the IRD homepage (www.info.gov.hk/ird).
"One of the common errors is the failure to report all sources
of income. For example, some taxpayers changed jobs in the middle
of the year but did not fill in the income earned in previous employments,"
Mrs Lau said. She reminded taxpayers to study carefully the "Guide
to completion of tax return" enclosed with the return. Late
or incorrect returns will be liable to penalty.
The IRD issued 1.83 million Individual Tax Returns today. From now
till May 31, telephone enquiry services will be extended. Members
of the public can call 187 8022 (8:15 am to 7 pm on weekdays and
9 am to 5 pm on Saturdays) or 187 8222 ( 5 pm to 7 pm on weekdays
and noon to 5 pm on Saturdays).
A counter enquiry service will also be provided at the Enquiry Service
Centre (Revenue Tower, Wan Chai) and the two sub-offices (Mongkok
and Tsuen Wan), from 1 pm to 5pm on May 25 and 26 (Saturday and
Sunday).
On the work plan, Mrs Lau said that IRD would delete 56 posts this
year under the Enhanced Productivity Programme. Nonetheless, through
the gainful use of information technology and business re-engineering,
IRD is confident that more and better services can be provided whereas
the efficiency and effectiveness of tax collection can be enhanced.
"With advanced information technology, IRD is able to provide
quality electronic services to the public. The recent launch of
TeleTax facilities provides an instant reply to tax enquiry. IRD
will vigorously promote electronic filing for an increasing use
of this mode of filing. It is convenient, fast and accurate,"
Mrs Lau added.
To ensure that every taxpayer will pay the correct amount of tax,
IRD will adopt a two-pronged approach. On the one hand, it will
strengthen tax audit in tackling tax evasion and avoidance. On the
other, IRD will promote taxpayer education on the importance of
filing correct returns.
"We have implemented a 3-tier audit system, the 'Audit Trilogy'.
Computer programmes are used to select cases for assessing officers
to conduct 'Desk Audit', field auditors to conduct 'Field Audit'
and investigators to carry out 'In-depth Investigation'," Mrs
Lau said.
She said that the tax revenue collected for 2001/02 totalled $101.3
billion. This provisional figure represented an increase of $0.9
billion, as compared with the previous year (Details attached).
"The increase is mainly attributable to the growth in 2000/01
salaries income and company profits. Both contributed to the increase
in Earnings and Profits Tax collections," she added.
Annex
Revenue collected for 2001/02 (Provisional figures)
-----------------------------------------------------------------
| Type of Tax |
2000/01 |
2001/02 |
Change |
| |
|
|
|
| |
($m) |
($m) |
|
| |
|
|
|
| Profits Tax |
42,969 |
44,376 |
+3% |
| |
|
|
|
| Salaries Tax |
26,303 |
28,637 |
+9% |
| |
|
|
|
| Property Tax andPersonal Assessment |
4,598 |
4,739 |
+3% |
| |
|
|
|
| |
---------- |
---------- |
|
| |
|
|
|
| Total Earnings and Profits Tax |
73,870 |
77,752 |
+5% |
| |
|
|
|
| Estate Duty |
1,503 |
1,928 |
+28% |
| |
|
|
|
| Betting Duty |
12,630 |
11,571 |
-8% |
| |
|
|
|
| Stamp Duty |
10,911 |
8,637 |
-21% |
| |
|
|
|
| Others |
1,523 |
1,444 |
-5% |
| |
|
|
|
| |
---------- |
---------- |
|
| |
|
|
|
|
Total Revenue: |
100,437 |
101,332 |
+1% |
| |
|
|
|
End/Thursday, May 2, 2002
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