fbpx

Not paying taxes on time/applying for instalment payments

The tax assessment notice issued by the Inland Revenue Department every year generally collects tax from taxpayers in two installments. If the taxpayer fails to pay the first installment on time, the Inland Revenue Department will impose a 5% surcharge for the first and second installments, and the entire tax will be deemed to be due immediately. If the taxpayer has not paid all the taxes within 6 months after the due date, the Inland Revenue Department will impose an additional 10% surcharge. If the taxpayer still owes taxes, the Inland Revenue Department can file a tax arrears suit to the court, and the taxpayer must pay court fees and interest (the current interest rate is 8.125%). In the end, the Inland Revenue Department has the right to apply for the seizure of all taxpayers’ assets, bankruptcy or liquidation applications for taxes that have not yet been paid off. If a taxpayer is really unable to pay tax due to financial difficulties, he can try to apply to the tax collection group to pay the tax in installments before the first instalment of the tax is due. However, taxpayers should note that the instalment tax will be subject to a 5% surcharge. The tax and 5`% surcharge that have not been paid within six months after the due date of the first period will be subject to a 10% surcharge.

The above information is for reference only. If in doubt, we welcome your tax inquiries

Leave a Comment

open chat
你好, 歡迎來到我們Mexus會計的網站, 如需會計及報稅的資訊, 我們會立即找專員聯絡你!

如想搜索免費的報稅資訊, 可看以下的連線:

https://mexus.com.hk/zh/報稅問與答-最熱門-不停更新/

如想搜索免費的成立公司資訊, 可看以下的連線:

https://mexus.com.hk/zh/服務提供/商業諮詢服務/成立公司秘笈-零蚊開公司的秘密/

感謝你的到訪, 希望有一天能為你服務