IRD issues tax returns for 2011-12
The Inland Revenue Department (IRD) today (April 2) issued about 170,000 profits tax returns, 120,000 property tax returns and 220,000 employer's returns for the year of assessment 2011-12.
About 2.16 million tax returns for individuals will be issued on May 2.
In this year's Budget, the Financial Secretary proposed a one-off reduction of 75 per cent of profits tax, salaries tax and tax under personal assessment for 2011-12, subject to a ceiling of $12,000. Upon enactment of the relevant legislation, the department will effect the tax reduction in this year's tax bills.
"Individuals with rental income, if eligible, can enjoy the reduction by electing personal assessment. They can make the election when completing their 2011-12 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.
It is the department's on-going commitment to make the filing process easier by enhancing the e-filing service over the years. This year, the department has extended its eTAX Internet filing service (www.gov.hk/etax) to enable employers to file annual employer's returns online.
The department encourages taxpayers to use the convenient and easy-to-use services under eTAX.
"Using eTAX services is simple. Any registered taxpayer can log into eTAX with his Taxpayer Identification Number (TIN) (printed on the tax return or tax demand note) and the eTAX password registered with the department or his digital certificate issued by a recognised certification authority," the spokesman said.
If a taxpayer has not yet registered for eTAX or has forgotten the password, he can open an eTAX account or apply for a new password at the above website. 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/Monday, April 2, 2012
Issued at HKT 11:01