Tax Demand Note Sample Hong Kong

Any provisional tax paid is credited against the final tax assessed for that year of assessment and any balance is applied against the provisional tax payable for the following year.
Tax demand note sample hong kong. First payment is usually due in january and the second in april. Tax reduction capped at tax thereon assessor s notes 97 500 20 000 77 500 1. Charitable donations and tax exempt charities. Property tax is collected through provisional property tax demand notes which may be raised on the owner when the property is first rented out.
If you get the demand note later rather than earlier the due date is usually not less than 6 weeks. You should only detach the relevant payment voucher for the 1st or 2nd instalment when making payment. Filing a copy of the bir60 which was downloaded from the internet is also not acceptable. 650 000 15 less.
Standard rate not applied as the tax amount will be higher. Obtaining duplicate employer s return. Automatic extension of 2018 19 tax payment deadlines for 3 months relief measure. The tax reduction proposed in the 2019 20 budget and the support measures subsequently announced have been taken into account in this assessment.
112 on property owners at the standard rate note 1 on the net assessable value of the rented property. There is no need to enclose the whole set of demand note. Tax bulletin annual meeting between the inland revenue department and the hong kong society of accountants 1999 part a matters raised by hksa item a1 i profits on long term building contracts and loss carry back the society referred to the minutes of the previous annual meeting concerning dipn no. Public forms and pamphlets.
For a specimen of the demand note please click here 3 pages. For your easy retention of record assessment details and payment voucher are printed on separate pages. In the 2018 19 financial year overall tax revenue went up by 4 per cent to a record hk 341 1 billion. If the demand note is really late arriving the two due dates can fall on the same day.
To submit tax return please send to us by post to gpo box 132. Obtaining duplicate tax return for individuals. But the word here is usually. Obtaining duplicate property tax return.
There are about 1 9 million salaries tax payers in hong kong. 1 2 property tax is charged under the inland revenue ordinance cap. Introduction 1 1 this part describes the background to the audit and outlines its objectives and scope. Conditional waiver of surcharges for instalment settlement of demand notes for the year of assessment 2018 19.