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News Archives (started from April 2017)

News Archives (started from April 2017)
TitleDate
Suspension of Service for Filing of Tax Return - Individuals through eTAX  30.03.2018
Tax Representatives' Corner  29.03.2018
Two-tiered profits tax rates regime to be implemented from April 1 this year  29.03.2018
Inland Revenue (Amendment) (No. 2) Ordinance 2018 gazetted  29.03.2018
Second instalment is falling due Tender payment promptly to avoid penalty Second instalment is falling due Tender payment promptly to avoid penalty 28.03.2018
Circular Letter to Tax Representatives – Block Extension Scheme for Lodgement of 2017/18 Tax Returns Circular Letter to Tax Representatives – Block Extension Scheme for Lodgement of 2017/18 Tax Returns 26.03.2018
Inland Revenue (Amendment) (No. 2) Bill 2018 gazetted  23.03.2018
LCQ6: Reviewing sections 39E and 16EC of the Inland Revenue Ordinance  21.03.2018
Hong Kong and India enter into tax pact (with photos)  19.03.2018
Stamp Duty statistics (February 2018)  

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website

13.03.2018
Gazettal of Inland Revenue (Amendment) Bill 2018  07.03.2018
Launch of the CbC Reporting Portal

The CbC Reporting Portal was launched today (5 March).  Hong Kong Ultimate Parent Entities of Reportable Groups (HK UPEs) can now file CbC Returns for accounting periods beginning between 1 January 2016 and 31 December 2017 via the Portal voluntarily.  HK UPEs intending to make such filings have to register on the Portal.  They are required to use an e-Cert (Organisational) with AEOI Functions for the purpose of authentication.  The Portal can be accessed through https://aeoi.ird.gov.hk/cbc.  Details relating to CbC Reporting are available on the IRD's webpage www.ird.gov.hk/eng/tax/dta_cbc.htm.

05.03.2018
Government announces Voluntary Health Insurance Scheme details   01.03.2018
Enhanced tax incentive to promote renewable energy and building energy efficiency  01.03.2018
Fraudulent email purportedly issued by Inland Revenue Department  28.02.2018
Tax measures proposed in 2018-19 Budget  28.02.2018
LCQ19: Development of an Islamic financial market in Hong Kong  28.02.2018
2018-19 Budget - Tax Measures  28.02.2018
Profits Tax Return - Fair Value Accounting  28.02.2018
Stamp Duty statistics (January 2018)  

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website
14.02.2018
List of Qualifying Debt Instruments (as at 31 December 2017)  02.02.2018
Inland Revenue (Amendment) Ordinance 2018 gazetted  02.02.2018
Suspension of Service for Filing of Tax Return - Individuals through eTAX 29.01.2018
Public alerted to bogus phone calls purporting to be made by Inland Revenue Department  25.01.2018
The Stamp Duty (Amendment) Ordinance 2018 has been gazetted

The Amendment Ordinance increases the ad valorem stamp duty (“AVD”) rate on certain instruments executed on or after 5 November 2016 for dealing with residential properties to a flat rate of 15%.  For Hong Kong permanent residents who change their residential property and wish to claim partial refund of the AVD paid on acquisition of the new property,  the Amendment Ordinance also extends the time limit for the disposal of the original property from within 6 months to within 12 months after the date of conveyance of the new property.   Please refer to Stamping Circulars Nos. 02/2018 and 03/2018 for the new stamping arrangements.  The FAQs and the illustrative examples for AVD - Scale 1 and Scale 2 have also been updated.

19.01.2018
List of Qualifying Debt Instruments (as at 31 December 2017)  17.01.2018
Country-by-Country Reporting

Hong Kong has entered into a bilateral arrangement with France for automatic exchange of Country-by-Country Reports. You may click here for details.
15.01.2018
Stamp Duty statistics (December 2017)

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website
12.01.2018
Notification of Change of Address  Notification of Change of Address 11.01.2018
Change of Postal Address of Employer Change of Postal Address of Employer 04.01.2018
Stock Borrowing Relief – Filing of Return of Stock Borrowing Transactions Stock Borrowing Relief – Filing of Return of Stock Borrowing Transactions  02.01.2018
Country-by-Country Reporting

Webpage relating to Country-by-Country Reporting has been updated to set out the implementation framework provided under the Inland Revenue (Amendment) (No. 6) Bill 2017 and the voluntary filing arrangement for accounting periods beginning between 1 January 2016 and 31 December 2017.  You may click here for details.
29.12.2017
Tax is falling due Tender payment promptly to avoid penalty Tax is falling due Tender payment promptly to avoid penalty 28.12.2017
Gazettal of Inland Revenue (Amendment) (No. 6) Bill 2017  27.12.2017
Inland Revenue Ordinance to be amended to implement two-tiered profits tax rates regime  27.12.2017
Suspension of services under eTAX and AEOI Portal  19.12.2017
Stamp Duty statistics (November 2017)  

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website
11.12.2017
HK-Belarus tax treaty in force   01.12.2017
IRD website's responsive web design  27.11.2017
HK-Latvia and HK-Pakistan tax treaties in force  24.11.2017
LCQ4: Imposing restrictions on the purchase of residential properties to curb speculation  15.11.2017
LCQ22: Measures to attract companies located outside Hong Kong to establish operations in Hong Kong  15.11.2017
Stamp Duty statistics (October 2017) 

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website
10.11.2017
Annual Report 2016-17 06.11.2017
Fraudulent email purportedly issued by Inland Revenue Department  03.11.2017
LCQ4: Measures to boost innovation and technology development 01.11.2017
DIPN 54  DIPN 54

The Inland Revenue Department today issued the Departmental Interpretation and Practice Notes No. 54 (“Taxation of Aircraft Leasing Activities”) which sets out the Department’s interpretation and practice in relation to the relevant provisions in the Inland Revenue (Amendment) (No. 3) Ordinance 2017.  It explains how an aircraft lessor and aircraft leasing manager can obtain the profits tax concessions under sections 14H(1) and 14J(1) of the Inland Revenue Ordinance.
27.10.2017
Business Registration Notice  Business Registration Notice 27.10.2017
Summit on New Directions for Taxation held today (with photos)  23.10.2017
Transcript of remarks by FS  23.10.2017
LCQ8: Measures to cool down residential property market  18.10.2017
List of Qualifying Debt Instruments (as at 30 September 2017)  17.10.2017
Hong Kong signs agreement with Switzerland on automatic exchange of financial account information in tax matters  13.10.2017
Notify Inland Revenue Department promptly of change of address Notify Inland Revenue Department promptly of change of address 12.10.2017
CE: Tax relief, new convention venues, I&T to boost Hong Kong's economy 11.10.2017
Stamp Duty statistics (September 2017)  11.10.2017
Inland Revenue Ordinance to be amended to facilitate international tax co-operation  06.10.2017
AEOI Account Registration and Reporting for Trustee-Documented Trusts

Webpage relating to AEOI Portal has been updated to provide guidance on registration of AEOI Account and reporting requirements in respect of trustee-documented trusts. You may click here for details.
12.09.2017
Stamp Duty statistics (August 2017)  11.09.2017
Hong Kong and Saudi Arabia enter into tax pact (with photos)  24.08.2017
Newly published Advance Ruling Case No. 62  22.08.2017
Newly published Advance Ruling Case No. 61  15.08.2017
Stamp Duty statistics (July 2017) 

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.
11.08.2017
SCS visits Inland Revenue Department (with photo)  07.08.2017
Government releases consultation report on measures to counter base erosion and profit shifting by enterprises 31.07.2017
Fraudulent email purportedly issued by Inland Revenue Department 26.07.2017
List of Qualifying Debt Instruments (as at 30 June 2017) 26.07.2017
Stamp Duty statistics

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website.
17.07.2017
Hong Kong signs agreement with New Zealand on automatic exchange of financial account information in tax matters 14.07.2017
LCQ2: Feed-in tariff scheme for renewable energy power generation installations 12.07.2017
Tax Obligations of Taxpayers and Employers Tax Obligations of Taxpayers and Employers 06.07.2017
LCQ1: Implementation of tax concessions 05.07.2017
Stock Borrowing Relief – Filing of Return of Stock Borrowing Transactions Stock Borrowing Relief – Filing of Return of Stock Borrowing Transactions 03.07.2017
AEOI Portal to be launched on July 3 30.06.2017
Orders on avoidance of double taxation agreements with Latvia, Belarus and Pakistan gazetted 30.06.2017
LCQ5: Assessments or additional assessments made under section 60 of the Inland Revenue Ordinance 28.06.2017
Inland Revenue (Amendment) (No. 4) Bill 2017 gazetted 23.06.2017
Inland Revenue (Amendment) (No. 2) Ordinance 2017 gazetted 16.06.2017
Hong Kong signs agreement with Indonesia on automatic exchange of financial account information in tax matters 16.06.2017
Tax obligations of property owners Tax obligations of property owners 15.06.2017
Performance Pledge Annual Report 2016/17

The Inland Revenue Department has achieved all the targets, and exceeded many, in its performance pledges in 2016/17.  The Performance Pledge Annual Report 2016/17 has been uploaded to the Department’s website.
09.06.2017
Hong Kong signs agreement with Ireland on automatic exchange of financial account information in tax matters 08.06.2017
LCQ8: Application for partial refund of the ad valorem stamp duty 31.05.2017
List of Qualifying Debt Instruments (as at 31 March 2017) 31.05.2017
Stamp Duty (Amendment) (No.2) Bill 2017 gazetted 26.05.2017
Government welcomes passage of Inland Revenue (Amendment) Bill 2017 25.05.2017
LCQ18: Automatic exchange of financial account information in tax matters 24.05.2017

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.

23.05.2017
Tax Obligations of Taxpayers and Employers Tax Obligations of Taxpayers and Employers 18.05.2017

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.

17.05.2017

Post Office Boxes of IRD

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.

12.05.2017
File Your Tax Return on time File Your Tax Return on time 11.05.2017
2.6 million tax returns for individuals issued 02.05.2017
Press Conference 2 May 2017 - The Gist of CIR's Speech and Major Statistics Press Conference 2 May 2017 - The Gist of CIR's Speech and Major Statistics 02.05.2017
LCQ8: Signing of comprehensive avoidance of double taxation agreements between Hong Kong and its trading partners 26.04.2017
Employer’s Return of Remuneration and Pensions Employer’s Return of Remuneration and Pensions 13.04.2017
LCQ19: Addressing overheated residential property market 12.04.2017
List of Qualifying Debt Instruments (as at 31 March 2017) 12.04.2017
Tightening up of the exemption arrangement under the New Residential Stamp Duty 11.04.2017
Tightening up of the exemption arrangement under the New Residential Stamp Duty 11.04.2017

Guidance for Financial Institutions Updated

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.

10.04.2017
Hong Kong signs agreements with Portugal and South Africa on automatic exchange of financial account information in tax matters 03.04.2017
IRD issues tax returns for 2016-17 03.04.2017