Hong Kong's Inland Revenue Department (IRD) has issued around 160,000 profits tax returns, 110,000 property tax returns and 320,000 employer's returns for the year 2008-09.
The IRD has estimated that around 2.08 million tax returns for individuals will be issued on May 4.
In this year's Budget, the Financial Secretary proposed a one-off reduction of 50% of salaries tax and tax under personal assessment for 2008-09, up to a maximum of HKD6,000 (USD774).
When relevant laws are enacted, eligible individuals with rental income or business profits can enjoy the reduction by electing personal assessment in their 2008-09 tax returns.
The department will check whether this will reduce the amount of tax payable, and assess each taxpayer in the way most advantageous to the taxpayer.
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