Taxation Q&A

  1. How to apply for installment payments? What information and documents are required for application?
  2. How to fill in the “BIR60 Personal Tax Return” for a sole proprietorship? How to declare income in Part 5?
  3. What income is/is not taxable? Understand the scope of salaries tax
  4. How can I take advantage of the qualifying deferred annuity tax deduction? How do I know if an annuity policy is eligible?
  5. Recognize the tax deduction strategy for charitable donations, can the spouse use the maximum donation limit?
  6. Should married persons choose “joint assessment” or “separate assessment”? Which one is more tax-efficient?
  7. What is the profit tax rate? Introduction to the Hong Kong Profits Tax System
  8. How do calculate profits tax for loss-making companies and “dormant” companies?
  9. What is “Personal Assessment”? Is this tax assessment really more tax-efficient and better for you?
  10. Tax deductions are available for renting and living in a building. What should I pay attention to in the “residential rent deduction”?
  11. Salaries tax reduction of $10,000, how does employment get the most tax benefit?
  12. Tax arrangements under the epidemic: Can subsidies income received for “Anti-epidemic Fund” be exempted from filing tax returns?
  13. Homeowner’s Tax Deduction: Home Loan Interest Tax Deduction
  14. Online Tax Filing Instructions, Steps to Apply for an ETAX Personal Account
  15. What are the “Three Treasures of Tax Deduction”? Tax returns: Voluntary Health Insurance, TVC MPF, Deferred Annuity
  16. 2022 tax return: MPF contributions are automatically tax-deductible? Tax Return FAQ
  17. 2022 tax filing tips: When should you file your taxes? Under what circumstances do I have to pay tax?
  18. 2022 tax return information: How much allowance is there for the 2021/22 year of assessment?
  19. 6 special taxes “Tariffs incurred for income”: Can tax deductions be made for clothing fees, remuneration fees, and assistant fees?
  20. Why does renting houses have to go through stamp duty? Stamp duty procedures and precautions
  21. Does the lease have to be stamped? How to calculate the stamp duty/stamp fee for a tenancy agreement?
  22. Company secretary work and related documents
  23. How many stamp duties are there? Introducing 5 Stamp Taxes on Hong Kong Properties
  24. What are the conditions for taking paternity leave for men? Can the 5-day paternity leave be taken separately?
  25. How is paternity leave pay for men calculated? What should employers pay attention to when arranging paternity leave?
  26. How does the Employment Ordinance define maternity leave? What are the original qualifications for employees to obtain paid maternity leave?
  27. How is maternity leave pay calculated? Can a pregnant employee be fired under any circumstances?
  28. What is the definition of rest day in the Employment Ordinance? Can an employer force an employee to work on rest days?
  29. Statutory holidays are not the same as public holidays? Can statutory holidays be paid in lieu of leave?
  30. What is a business model? 9 business elements to consider before starting a business
  31. 3 Accounting Mistakes Entrepreneurs Must Avoid Early!
  32. Need help with starting a business? Four government website resources to support entrepreneurs
  33. How much does it cost to start a business? Expenses to consider before becoming a boss
  34. Dismantling the question of paid annual leave: How many days of paid annual leave does an employee have in a year? How should employers arrange for employees to take paid annual leave?
  35. Is it feasible to substitute salary for annual leave? Can part-time workers also enjoy paid annual leave?
  36. Three questions about payment in lieu of notice: Can annual leave be used to offset the notice period?
  37. How does payment in lieu of notice calculated on salary? How long is the notice period?
  38. How is the year-end payment calculated? When is the year-end payment due?
  39. Do employers have to pay end-of-year pay to employees? How is the partial year-end payment calculated?
  40. It’s just “personal education expenses” and “approved charitable donations”. It’s no problem to make a false report to reduce taxes. If the Inland Revenue Department catches it, it’s okay to report the wrong one? You are so wrong about it.
  41. When an employer terminates an employment contract, what payment is required?
  42. What is unreasonable dismissal? 5 Definitions of “Dismissal” You Need to Know
  43. How to file for personal bankruptcy proceedings? 5 Steps to File for Bankruptcy
  44. What is the application process for a business registration certificate? What documents do I need to prepare when applying?
  45. Do online stores need to register with a business registration certificate? How to display the business registration certificate correctly?
  46. What is the cost of a one-year/three-year business registration certificate? How to deal with the renewal of business registration certificate
  47. What does personal bankruptcy represent? How will bankruptcy be governed and how will it affect life?
  48. What does a company winding-up represent? What is the difference between liquidation and bankruptcy?
  49. Can the renovation expenses apply commercial building allowance or building refurbishment? The endless dispute!
  50. Under what circumstances do I have to pay severance payment and long service payment? Definition of “layoff” and “lockdown” in the Employment Ordinance
  51. How are severance and long service payments calculated? when will you pay?
  52. Mandatory Provident Fund (MPF) Contribution Different Contribution Methods and Points to Note
  53. How do self-employed persons calculate their Mandatory Provident Fund (MPF) contributions and relevant income?
  54. When do I need to register an employee with a Mandatory Provident Fund (MPF)? Enrolment Procedures for Mandatory Provident Fund (MPF) Schemes
  55. When to make contributions to employees’ Mandatory Provident Fund (MPF)? What is “Contribution Free Period”
  56. I purchased a computer in the year of assessment 2020/21 for HKD10,000. Can I have this expense to be split into two parts and claim a tax deduction in two years of assessment? Therefore HKD5,000 in the year of assessment 2020/21 and other HKD5,000 in the year of assessment 2021/22.
  57. Employers’ handling of Mandatory Provident Fund (MPF) arrangements after employees leaves the company
  58. How should pay sick leave be accounted for? Frequently Asked Questions in Labor Law
  59. How to withdraw from Mandatory Provident Fund (MPF)? 6 Ways Beyond Retirement at 65 years old
  60. What is a Mandatory Provident Fund Scheme (MPF)? What Mandatory Contributions and Voluntary Contributions Are Calculated
  61. Is it OK to file a false tax return? The consequences are unexpected, jail time? Fines?
  62. New search arrangements under the Companies Ordinance?
  63. How to apply for installment payments? What else should I pay attention to?
  64. Hong Kong tax return “zero return”? Do “dormant companies” must file taxes?
  65. 4 Methods of Accounting Reconciliation, Why Do You Need Regular Reconciliation?
  66. Inland Revenue Department Investigation – Types and Powers
  67. 3 Questions About Auditing: When Is Auditing Needed? Why do you need an audit? What needs to be prepared?
  68. What is an audit opinion? Detailed explanation of 4 kinds of audit report opinions in Hong Kong
  69. How to apply for a waiver of the business registration fee and levy?
  70. 3 Ways to “Convert” an Unlimited Company to a Limited Company, and the Precautions
  71. What are accounting documents? What accounting information should the company keep?
  72. “Notes on Keeping Business Records”, how should a company keep business records?
  73. The sequence of the tax deduction for voluntary contributions and annuity premiums
  74. What are the consequences of violating the Inland Revenue Ordinance? What is the penalty for assessing additional tax?
  75. Are Internal Audit and External Audit Functions Complementary? How are they different?
  76. What is the difference between an accounting firm and a CPA firm?
  77. Why is the Certificate of Incorporation so important? How is it different from a business registration certificate?
  78. Instructions and Limits for Claiming Administrative Service Fees
  79. There are 3 advantages of setting up a company in Hong Kong: low tax rate, fewer taxes, and simple registration requirements!
  80. Set up a limited company and receive a green box? What is the green box? What’s the use?
  81. Will Hong Kong taxpayers face double taxation problems?
  82. Business registration fee waiver until 2022, only $250 for a one-year pass?
  83. Circumstances where rental income can be reduced
  84. How to exempt from HKFRS reporting? Which companies are eligible for the exemption?
  85. What are Hong Kong Accounting Standards? What does the specific scope include?
  86. [Tax Filing 2022] Found omissions, misreported tax returns? How do I submit an amendment to the tax office?
  87. Three major digital funding from the government: Technology Voucher Programme (TVP), The SME Export Marketing Fund (EMF), and Dedicated Fund on Branding, Upgrading, and Domestic Sales (BUD Fund)
  88. Tax avoidance – pay a large administrative service fee
  89. What is the difference between bookkeepers, accountants, financial controllers (Controllers) and chief financial officers (CFO)?
  90. What are the “deductible items” for profits tax? What other “exempt income”?
  91. 6 common tax deduction items to help you use up your tax allowance!
  92. Do I need to file a tax return when I receive funding from the Anti-epidemic Fund? How do employers and employees file tax returns for related subsidies?
  93. Voluntary Health Insurance Scheme Tax Deduction
  94. 7 frequently asked questions about applying for the Technology Voucher (TVP) program, answered one by one!
  95. 100% Personal Loan Guarantee Scheme application instructions! Eligibility requirement? how to apply?
  96. What are the requirements for applying for the “100% Personal Loan Guarantee Scheme ” under the SME Financing Guarantee Scheme?
  97. Is it feasible to use an offshore company to avoid tax?
  98. Salaries tax – claim deduction for commission earned
  99. What do I need to prepare before setting up a company in Hong Kong? 4 Dos and Don’ts for Forming a Company!
  100. 6 Common “Tax” Questions Answered for Office worker!
  101. [BUD funding] A must-read for expanding in Hong Kong and overseas! What should I pay attention to when applying for the BUD special fund?
  102. [Technology Voucher Program instructions] How to apply for the Technology Voucher Program (TVP)?
  103. Easy Tax Filing Guide 2021! How should companies and individuals calculate salaries tax and profits tax?
  104. Profits Tax – Payment of Commissions, Rebates, and Discounts to be assessed by an agent
  105. What is the difference between accounting / audit? What does an auditor do?
  106. Types and powers of IRD investigation cases
  107. Should I choose a “limited company” or an “unlimited company” to establish a company? What is the difference between each?
  108. What should I do if I disagree with the tax assessment?
  109. Not paying taxes on time/applying for instalment payments
  110. Tax Reserve Certificate
  111. Application for deferred payment of provisional property tax
  112. Limited company-hiring employees and pay them a salary
  113. Profits tax-what you need to know about commissions, rebates and discounts
  114. Profits tax-disclosure of commissions, rebates and discount expenses
  115. Profits tax-commission, rebate and discount expenses
  116. Deduction of interest on operating business loans
  117. The Inland Revenue Department has finally resumed basic public services, and you can go directly to the Inland Revenue Department to get tax forms.
  118. Commercial Building Tax Exemption
  119. Non-residential renovation or alteration expenses
  120. Is the premium paid by the employer for the Keyman insurance plan tax deductible? (1)
  121. Conditions for deduction of home loan interest
  122. Tips for claiming a couple’s home loan interest deduction
  123. Deduction of expenses for tools, appliances or objects used in operating business
  124. Home loan interest deduction- further charge or re-financing
  125. Industrial building allowance
  126. Several situations for deducting home loan interest
  127. Reasons for applying for holdover of provisional profits tax
  128. Application for deferment of profits tax payment
  129. Do taxpayers only need to keep accounting records for 7 years?
  130. Anti-avoidance regulations-crack down on transactions whose main purpose is to obtain tax benefits
  131. Anti-Tax Avoidance Regulations-What are tax benefits?
  132. Limited company-payment of directors’ remuneration and housing benefits
  133. Anti-Tax Avoidance Regulations-False or Fictitious Transactions
  134. Lease Expired Stamp Duty
  135. Notes on Keeping Business Records
  136. Is rent lump-sum premium income taxable?
  137. Under what circumstances will the Inland Revenue Department agree to the deregistration of a limited company?
  138. How to apply for deregistration of a company?
  139. Corporations hold rental properties- Does it relate to profit tax or property tax?
  140. Profits Tax-Bad and doubtful debts and related Deductions
  141. Taxation related to partnership business
  142. Limited company-increased tax deduction by salary
  143. Is the employee insurance agent subject to salaries tax for receiving the advance payment?
  144. The benefits that can be converted into money are subject to salaries tax?
  145. Self-employed insurance agent collects advance payment to pay profits tax?
  146. How would you be selected as an investigation case for the Inland Revenue Department?
  147. Self-employed insurance agent collects advance payment to pay profits tax?
  148. Insurance Agent-Salaries Tax or Profits Tax?
  149. Profits Tax-Expense Sharing
  150. Proposing to amend the assessment on the grounds of error or omission
  151. The objection period has expired, but can the tax assessment be corrected?
  152. Salaries tax-payment in lieu of notice
  153. Hong Kong residents withhold tax on behalf of non-residents
  154. Under what circumstances do you need to act responsibly on behalf of non-residents in Hong Kong
  155. Patent or copyright fees paid to associates
  156. The following are treated as operating income: film, patent, or copyright category
  157. Conditions for applying for dependent parent/grandparent allowance
  158. Under what circumstances can I apply for single parent allowance?
  159. Rules for applying for child allowance
  160. The 80 Billion Employment Guarantee Plan – 8 major Q&As
  161. The second round of epidemic prevention and anti-epidemic fund measures
  162. Conditions for applying for a married person’s allowance
  163. Schedule for filing tax returns for 2020-21
  164. How does the executor declare the income before the taxpayer is deceased?
  165. The executor’s duty to file tax returns for the deceased taxpayer
  166. Limits for claiming charitable deductions
  167. How can I claim charitable donations?
  168. Does the Inland Revenue Department allow apportioned (overseas) profits to be taxed?
  169. Manufacturing taxation – the differences between processing with supplied materials and processing with imported materials
  170. How does the Inland Revenue Department infer that trade profits are derived from overseas?
  171. Service Industry: The concept profit generated from Hong Kong
  172. The landlords should report truthfully on the tax return!
  173. Which expenses are tax-deductible from the landlord’s rental income?
  174. Is the property tax only paid from the rent of the leased property?
  175. Who will the Inland Revenue Department collect property tax from?
  176. Employers are responsible for notifying employees of the Inland Revenue Department to leave Hong Kong
  177. Reduce housing rental value and arrange housing benefits
  178. Housing benefits: Employers pay rent for employees
  179. What kind of income is subject to salaries tax?
  180. Income from overseas employment that foreign tax has been paid and is eligible to apply for exemption from Hong Kong salaries tax
  181. Are there any exceptions to salaries tax on the income of hired employees in Hong Kong?
  182. Salaries tax exemption on income from non-Hong Kong employment positions
  183. The employee starts working in Hong Kong and his/her employer’s tax liability
  184. Profit tax – are all expenses tax deductible? (3)
  185. Profit tax – are all expenses tax deductible? (2)
  186. Profit tax – are all expenses tax deductible? (1)
  187. Can offshore companies avoid paying Hong Kong taxation?
  188. Is tax avoidance illegal?
  189. Instructions for business registration, under what circumstances can the fee be waived?
  190. Differences between deductions under salaries tax and profits tax
  191. Profits from businesses all over the world are subject to Hong Kong profits tax
  192. What is operating a business?
  193. Is there a time limit for selecting or withdrawing personal assessment?
  194. You may not be able to elect for personal assessment even if you have a Hong Kong ID card?
  195. Figure out whether it is self-employed or an employee?
  196. There is no tax deduction for reported rental income/sole proprietorship or partnership profits?
  197. What kind of services/document I can obtain?
  198. Q: Are there any required information in order to setup HK Company?
  199. Q: Are there any requirement to setup HK company?
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