Hong Kong Issues 2020-21 Tax Returns
by Mary Swire, Tax-News.com, Hong Kong
06 April 2021
On April 1, 2021, the Hong Kong Inland Revenue Department began issuing profits tax, property tax, and employer's returns for the year of assessment 2020-21.
This year's Budget proposed a one-off reduction of 100 percent of profits tax, salaries tax, and tax under personal assessment for 2020-21, subject to a ceiling of HKD10,000. Once the relevant legislation has been enacted, the IRD will effect the tax reduction in this year's tax bills.
A spokesperson for the IRD said that individuals with rental income can, if eligible, avail themselves of the reduction by electing personal assessment. They can make this choice when completing their 2020-21 tax returns for individuals.
Taxpayers and employers are generally required to file their tax returns within one month from the date of issue of the relevant returns. About 2.6 million tax returns for individuals will be issued on May 3.
To see today's news, click here.
Tax-News Reviews

A review and forecast of Cyprus's international business, legal and investment climate.

A review and forecast of Malta's international business, legal and investment climate.

A review and forecast of Jersey's international business, legal and investment climate.

A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »
Network Blogs and Features
- Tax Reforms A-Go-Go »
- Equity Compensation in Startup - Guide »
- Governments Go Easy on Taxpayers... »
- Digital Doings... »
- UAE Onshore Trust Law: Broadening the scope of wealth preservation solutions in the region »
- FDI Sees Ireland Through Covid and Brexit, Solidifying its Reputation as a European Base for Multinational Corporations »
- Transfer Pricing Tidbits »
- Court Case Catch-Up »
- UK's Tax Agenda Topped Up »
- Trusts Act 2019: New Zealand Foreign - or 'Offshore' - Trust Changes »