Tax Hold-Over Applications Rise 78% In HK

by Mary Swire, Tax-News.com, Hong Kong

25 March 2009

There are 58,100 applications for holding over provisional salaries tax in the current fiscal year, a 78% rise on last year, Hong Kong's Commissioner of Inland Revenue, Alice Lau, has announced.

Ms Lau told legislators on March 24 that applications for holding over profits tax reached 7,800 cases - up 85% on last year.

She added that, on paying tax by instalments, there were 2,000 applications for profits tax, representing 1.8% of total payment demands.

There were 6,100 and 620 cases for salaries tax and personal assessment respectively.

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