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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