Is there a time limit for selecting or withdrawing personal assessment?

Is there a time limit for selecting or withdrawing personal assessment?

If the taxpayer wishes to choose personal income tax, he/she must make my choice in writing and no later than:

• two years after the year for personal assessment; or

•the assessment of income or gains has become the final and decisive assessment; or

•limit agreed by the Hong Kong Taxation Commissioner of Taxation in relation to relevant circumstances

Take the deadline at the latest.

In addition, sometimes you may find that you have to pay more taxes in subsequent years due to the selection of a personal assessment order in a certain year, so you want to withdraw the personal assessment for that year. It should be noted that there is also a time limit for the withdrawal of personal assessment.

If you want to withdraw personal assessment, it must be submitted in writing within six months after the personal assessment is issued. After the withdrawal of personal assessment, it should not be reversed without the approval of the Commissioner of Inland Revenue.

We welcome your inquiries regarding any taxation.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *