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Who will the Inland Revenue Department collect property tax from?

The tax regulations require that every landlord who owns any Hong Kong property must report the rental income of the leased property to the Inland Revenue Department and pay property tax. The property includes land and buildings, that is, in addition to buildings, it also includes side shops, parking spaces, exterior walls, roofs, signboards, freight terminals, etc…

The owner of a property is not only the registered owner of the Land Registry but also stated in Article 2 of the Tax Regulations. The owner also includes:

1. Holders of land and buildings approved by the government (general owners of buildings)

2. Beneficial owner (beneficial owner under a will or trust deed arrangement)

3. Life-long equity owner (if a person has the right to enjoy the property, after his death, the title will eventually belong to another property owner)

4. Mortgage (mortgagor)

5. Possession of mortgagee (the mortgagee who actually owns the property)

6. A person who owns opposite property rights (a person who rents out and occupies the land)

7. People who rent out illegal structures

8. People who purchase properties from registered cooperatives

9. Persons who hold property underpayment of rent

10. Executor of the estate

11. Owners’ corporation (a group of owners who jointly hold the common areas of the building)

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

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