(Source : news.gov.hk)
IRD issues tax returns for 2010-11
The Inland Revenue Department today (April 1) issued about 170,000 profits tax returns, 110,000 property tax returns and 200,000 employer's returns for the year of assessment 2010-11.
About 2.05 million tax returns for individuals will be issued on May 3.
In this year's Budget, the Financial Secretary proposed a one-off reduction of 75% of salaries tax and tax under personal assessment for 2010-11, subject to a ceiling of $6,000. Upon enactment of the relevant legislation, the department will effect the tax reduction in this year's tax bills.
"Individuals with business profits or rental income, if eligible, can enjoy the reduction by electing personal assessment. They can make the election when completing their 2010-11 tax returns. The department will check in each case whether the election will reduce the amount of tax payable, and assess each taxpayer in the way most advantageous to him," a spokesman for the department said.
As in the past, taxpayers can file property tax returns for their jointly owned properties through their eTAX Account. Precedent partners of partnerships and directors, secretaries or managers of corporations holding eTAX Accounts can also file profits tax returns for their businesses through their eTAX Account.
The department encourages taxpayers to use the convenient and easy-to-use services under eTAX.
"The opening of an eTAX Account is simple. Any taxpayer can log into eTAX at www.gov.hk/etax with his Taxpayer Identification Number (TIN) and the eTAX Password registered with the department or his digital certificate issued by a recognised certification authority," the spokesman said.
If a taxpayer does not have a password or has forgotten it, he can apply for a new one under eTAX. Taxpayers can choose their own TIN and eTAX Password when they open their eTAX Account.
Taxpayers can visit the department's website at www.ird.gov.hk for common questions and answers on how to complete tax returns. Taxpayers are reminded to file their properly completed tax returns on time.
Ends/Friday, April 1, 2011
Issued at HKT 11:00