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Tax Information :
Individuals :
Demand Note for Individuals: what's new
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Demand Note for Individuals: what's
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Starting from July 2005, the Inland Revenue Department
has adopted a new design for salaries tax and personal assessment
demand notes. The purpose is to provide taxpayers with more information
and make the tax demand notes more comprehensible.
Major improvements on the demand notes are:
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Brief description of the basis of
assessment
The basis of assessment is stated. You will know at a glance
whether the assessment is based on the tax return filed or it
is an estimated assessment. For an estimated assessment, made
in the absence of a tax return, you are also reminded to file
a timely objection against the assessment and submit a tax return.
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Important details on the first page
Clearly shown on the first page are important details such as
the total amount of tax payable and the respective amounts payable under
the 1st and 2nd instalments. The due date and dates of the instalments are
printed in red. The time limit for lodging a notice of objection and the deadline
for applying holdover of provisional tax are also shown.
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Clearer tax computation
The tax computation on page two shows clearly in a vertical format the income,
deductions, allowances and amount of tax assessed for the final and provisional
assessments. It also shows whether the tax is calculated at the progressive
rates or standard rate. As only items that are relevant to you are included,
the computation is easier to follow.
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Improved standard Assessor's Notes
Assessor's Notes are printed below the tax computation for your easy
reference. More than 200 standard Assessor's Notes have been rewritten.
They are now more user-friendly and comprehensible.
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For your easy retention of record, assessment details and
payment voucher are printed on separate pages. You should only detach the
relevant payment voucher for the 1st or 2nd instalment when making payment.
There is no need to enclose the whole set of demand note.
For a specimen of the new demand note, please click
here (3 pages).
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