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Online Tax Return Filing Encouraged In HK,
by Mary Swire, Tax-News.com, Hong Kong
Thursday, May 07, 2009
Hong Kong's Inland Revenue Department has announced that it will grant an automatic
one-month extension to all e-filers to encourage online filing of tax returns.
Commissioner of Inland Revenue Alice Lau announced on May 5 that the department
is sending out 2.08 million individual tax returns. She reminded taxpayers to
file their returns on time, remarking:
"As a one-month period is allowed for filing individual tax returns, the
deadline falls on June 4 this year," she said, adding that eTAX users filing
their returns online will get a deadline extension to July 4.
For sole proprietors of unincorporated businesses, a three-month period is
allowed with a deadline of August 4, and it is extended to September 4 for eTAX
filers, Ms Lau continued.
Further to this, she also explained that people with rental or business income
can elect personal assessment to enjoy the 50% tax reduction announced in the
Financial Secretary's Budget for 2009-10.
"The personal assessment election can be made in their 2008-09 tax returns.
We will check, in each case, whether the election will reduce the amount of
tax payable, and assess each taxpayer to his advantage," Lau added.
If a taxpayer is certain they will be earning significantly less in 2009-10
as a result of a cessation or change of employment, they can give details either
by making a note on the tax return, or on a separate piece of paper.
As the deduction ceiling for approved charitable donations has been raised
to 35% of the taxpayer's income, the department will enhance audits on donation
claims to guard against abuse.
During 2008-09, HKD191.5bn (USD24bn) in revenue was collected, an increase
of HKD9.2bn (USD1.1bn) on the previous financial year.
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