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Hong Kong Tax Return Filing

Updated:2018-7-12 17:21:14    Source:www.tannet-group.comViews:577

Hong Kong tax return refers to the reports filed with the department of the Hong Kong Inland Revenue Department containing information used to calculate the taxes and declare liability for taxation. Tax returns are generally prepared using forms prescribed by the tax authority. Tax returns allow taxpayers to calculate their tax liability, schedule tax payments, or request refunds for the overpayment of taxes. In most countries, tax returns must be filed annually for an individual or business with reportable income. The following are the types of tax retun in Hong Kong.

Taxation Advantages of Hong Kong
Hong Kong taxes are among the lowest in the world, and the tax regime is simple and predictable. Hong Kong’s simple and low tax system is a great attraction to foreign investors. This low fiscal burden for all, domestic or international players, corporatist and individuals alike make Hong Kong attractive.

Types of Tax Returns
There are different types of tax returns and you need to report your tax liabilities on the appropriate one(s). Here you can learn more about these types of tax returns, their normal issue dates and how to obtain a duplicate tax return.

1. Individuals
Tax Return - Individuals (BIR60) is directed at individuals. It enables you to report all your employment income (including income from office and pension), profits from sole proprietorship businesses, rental income from solely owned properties as well as claiming deductions and allowances in one return.

If you have previously been assessed as not liable to tax, you may not receive BIR60 annually. However, you have to notify the Inland Revenue Department (IRD) in writing when you become chargeable to tax not later than 4 months after the end of the basis period for the year of assessment concerned. You will receive an advice letter from the IRD to review your tax liabilities.

2. Property Tax Return
Property tax returns are issued to joint owners, co-owners, corporations and bodies of persons. If you are the sole owner of the property, you should report your rental income in Tax Return – Individuals (BIR60).

There are two series of property tax return forms:
Property Tax Return – Property Jointly Owned or Co-owned by Individuals;
Property Tax Return – Corporations and Bodies of Persons.

3. Profits Tax Return 
If you carry on business in the form of a corporation, partnership business or if a non-resident person is chargeable to profits tax in your name, you should report the profits on profits tax returns. Your profits from the carrying on of sole proprietorship business should be reported in Tax Return – Individuals (BIR60).

There are three series of profits tax return forms:
Profits Tax Return – Corporations;
Profits Tax Return – Persons Other Than Corporations;
Profits Tax Return – In Respect Of Non-Resident Persons.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020,Dongmen Rd South, Luohu, Shenzhen, China.

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