CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Hong Kong Issues 2020-21 Tax Returns

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.

TAGS: individuals | tax | property tax | revenue guidance | tax authority | legislation | tax rates | Hong Kong | tax reform

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

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

Visit Cyprus Review »

Malta Review

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

Visit Malta Review »

Jersey Review

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

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



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 »