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Type of Tax
You are liable for salaries tax on your income arising in or derived from employment in Hong Kong. You may get detailed information from the “e-Seminar for Individual Taxpayers”. On the other hand, if you carry on any trade, profession or business in Hong Kong, you are liable for profits tax. If you only have business profit, you may seek tax relief by electing for personal assessment. For details, read information about personal assessment.
Tax Computation
How much tax should you pay? The amount is calculated according to tax rates for salaries tax and personal assessment. If you are paying salaries tax or have elected for personal assessment, you are entitled to basic personal allowance and you may also claim for the deduction of outgoings and expenses. You may calculate your tax liability online using the tax computation program. Further, you may calculate your profits tax liability by referring to profits tax rates.
If you disagree with the assessment, you can lodge an objection against your assessment.
Filing Tax Return
How do you complete a tax return? Just visit the Filing Tax Returns section of GovHK for information. If you are required to complete Profits Tax Return, you can visit the website for advice on completing profits tax return.
As the Internet generation, you may also opt for filing or viewing your tax returns online. But first you have to open an eTAX account to authenticate your identity to use the electronic services.
Tax Payment
There are various tax payment methods. Find out the one that is most convenient to you and pay before the due dates. There are late charges for tax in default.
Save money to pay tax. You may consider joining the Electronic Tax Reserve Certificates Scheme to build up funds for your tax payment.
Others
Interactive Tax Enquiries is an easy and simple way to enquire about your tax information and details, such as tax return, assessment notices and payment status. If there is change of address, remember to notify the Inland Revenue Department. Otherwise, you will not receive a tax return. If you fail to file the return on time, you will be exposed to the risk of penal action being taken.
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