In fact, the Inland Revenue Department can know whether the owner’s property has been rented out and the amount of rented out from the following information:

1. Files regularly checked by the Hong Kong Inland Revenue Department mechanism

2. Employee’s pensions stated on the employer’s return of remuneration and pension

3. Rental expenses claimed by the tenant on the profit and loss statement of the sole proprietorship/partnership business or limited company

4. A stamped tenancy agreement submitted by the landlord and tenant to the Inland Revenue Department

5. Information reported by outsiders to the Hong Kong Inland Revenue Department

Therefore, it is not difficult for the Inland Revenue Department to find that landlords are under-reporting rental income. Owners must know that deliberate tax evasion will violate the tax regulations, this is subject to criminal prosecution, fines, and imprisonment. In addition to the above, the landlord must keep all rental records for at least seven years. The owner must also notify the Hong Kong Inland Revenue Department in writing of the following circumstances and deadlines:

Matters (1) Subject to property tax, notice within four months after the end of the year

Matter (2) Notice within one month after the property is sold or transferred

Matters (3) Notification within one month after changing the mailing address

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

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