Tips for claiming a couple’s home loan interest deduction
If one of a couple holds a residence, he does not have any income and needs to file a tax return, so…
Deduction of expenses for tools, appliances or objects used in operating business
All operating expenses incurred by taxpayers operating their business to earn assessable profits are deductible. In addition to the deductions mentioned in…
Home loan interest deduction- further charge or re-financing
Taxpayers will apply to the bank for a mortgage when purchasing a residence. The loan granted by the bank is usually used…
Industrial building allowance
Taxpayers operating business to purchase properties are of a capital nature and cannot be deducted in one go, but they can be…
Several situations for deducting home loan interest
If taxpayers want to claim the home loan interest deduction, please pay attention to (if applicable) the following situations: 1. Property under…
Reasons for applying for holdover of provisional profits tax
Taxpayers who wish to apply for deferment of part or all of the provisional profits tax must submit an application to the…
Application for deferment of profits tax payment
Every taxpayer who pays profits tax for a certain year of assessment is obliged to pay provisional profits tax. The provisional profits…
Do taxpayers only need to keep accounting records for 7 years?
According to Article 51C of the Inland Revenue Ordinance, all taxpayers operating in Hong Kong must keep all business records for at…
Anti-avoidance regulations-crack down on transactions whose main purpose is to obtain tax benefits
In order to obtain tax benefits, taxpayers will enter into or implement certain tax avoidance transactions. Article 61A of the Anti-Avoidance Regulations…
Anti-Tax Avoidance Regulations-What are tax benefits?
In order to obtain tax benefits, taxpayers will enter into or implement certain tax avoidance transactions. The Inland Revenue Department believes that…