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PRESS RELEASE

(Source : Information Services Department)

IRD issues profits tax, property tax and employer's returns for 2020-21

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     ​The Inland Revenue Department today (April 1) issued about 210,000 profits tax returns, 120,000 property tax returns and 320,000 employer's returns for the year of assessment 2020-21. About 2.6 million tax returns for individuals will be issued on May 3. Taxpayers and employers are generally required to file their returns within one month from the date of issue of the relevant returns. For cases with tax representatives appointed, the deadlines for filing returns are set out in the Block Extension Letter posted on the department's website.

      In this year's Budget, the Financial Secretary proposed a one-off reduction of 100 per cent of profits tax, salaries tax and tax under personal assessment for 2020-21, subject to a ceiling of $10,000. 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 choice when completing their 2020-21 tax returns for individuals," a spokesman for the department said.

      Members of the public can visit the department's website (www.ird.gov.hk) for common questions and answers on how to complete tax returns. The department encourages taxpayers to file their tax returns through eTAX electronic services, details of which can be found in the webpage (www.gov.hk/en/residents/taxes/etax/services/index.htm). Guidance on electronic filing of employer's returns is also available on the department's website (www.ird.gov.hk/eng/tax/err.htm). The eTAX services permit individuals to use the Government's "iAM Smart" digital services to login and sign the tax returns (signing is only applicable to holders of "iAM Smart" accounts with digital signing function). For information about the "iAM Smart" services, please visit the website at www.iamsmart.gov.hk.

      The department reminds taxpayers and employers to pay sufficient postage for returns to be posted to the department to ensure timely delivery. Postage rates can be found on Hongkong Post's website at www.hongkongpost.hk. Underpaid mail items will not be accepted by the department.
 

Ends/Thursday, April 1, 2021
Issued at HKT 12:15

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