Desktop VersionSite MapContact UsShare RSS
  • Default font size
  • Bigger font size
  • Biggest font size


(Source : Information Services Department)

Inland Revenue (Amendment) (No. 4) Bill 2018 gazetted


      The Government published the Inland Revenue (Amendment) (No. 4) Bill 2018 in the Gazette today (May 18).  The bill seeks to provide a tax deduction under salaries tax and personal assessment to people who purchase eligible health insurance products for themselves or their specified relatives under the Voluntary Health Insurance Scheme (VHIS).
      A spokesman for the Food and Health Bureau said, "The VHIS tax deduction scheme is flexible and user-friendly.  A taxpayer can claim deductions for VHIS premiums paid up to $8,000 per insured person for insurance policies procured for the benefit of the taxpayer and all specified relatives (irrespective of number).
      "If a taxpayer has procured more than one VHIS policy, the taxpayer may still claim deduction for the various premia paid, subject only to the $8,000 cap for each insured person.
      "There is also no cap on the number of taxpayers who can make a claim for tax deduction for the same insured person."
      Specified relatives cover the taxpayer's spouse and children, and the taxpayer's or his/her spouse's grandparents, parents and siblings.
      To ensure that the tax incentive is provided for people who have a nexus to Hong Kong, an insured person or the parent of an insured person who is under 11 years old and does not hold a Hong Kong Identity Card should be a Hong Kong Identity Card holder.
      The bill will be introduced into the Legislative Council for scrutiny on May 23.

Ends/Friday, May 18, 2018
 Issued at HKT 10:40