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Inland Revenue Department in Hong Kong

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Inland Revenue Department in Hong Kong

2020-09-08T08:04:13+00:00August 5, 2020|0 Comments

The Inland Revenue Department (IRD) in Hong Kong is the government body that is responsible for overseeing the administration of taxes and duties.

The IRD headquarters is based in the Revenue Tower in Wanchai.

Inland Revenue Department

The responsibilities of the Commissioner of the IRD includes overseeing the administration of the following ordinances in Hong Kong:

  1. Betting Duty Ordinance Cap.108
  2. Business Registration Ordinance Cap.310
  3. Estate Duty Ordinance Cap.111
  4. Hotel Accommodation Tax Ordinance Cap.348
  5. Inland Revenue Ordinance Cap.112
  6. Stamp Duty Ordinance Cap.117
  7. Tax Reserve Certificates Ordinance Cap.289

 

The Inland Revenue Department (IRD) Hong Kong’s Mission and Vision

The core values of the IRD are professionalism, efficiency, responsiveness, fairness, effectiveness, courtesy, and teamwork. As part of their responsibilities, the IRD has an important part in the promotion of prosperity and stability in Hong Kong. They are committed to the following duties:

  • The collection of revenue efficiently and cost-effectively
  • The promotion of compliance through its rigorous law enforcement, education, and publicity programmes.
  • Providing the taxpaying public with courteous and effective service
  • Enabling the IRD staff to obtain the necessary knowledge, attitude, and skills. Upon doing so, they can contribute their best achievement.

Paul Hype Page has been assisting past clients to manage their tax with the IRD. We have strong relationships with IRD and can provide in-sights on dealing with the IRD, should an individual client requires such information.

 

Inland Revenue Department (IRD) Hong Kong’s eTax Service

The IRD Hong Kong provides a user-friendly electronic service known as eTAX. It offers users an easy, secure and environmentally friendly way to facilitate their compliance with the tax law. As a result, it enables users to carry out their tax obligations with ease and convenience.

Users can log into their eTAX account using their Taxpayer Identification Number (TIN) and their eTAX password to access the services. With the online account, users will then be able to keep track of their current tax position. They can also manage their tax-related affairs and easy communication with the IRD Hong Kong no matter where they may be and at any time.

Further, the benefits of using the eTAX account include:

  • Filing tax returns
  • Applying for business registration and also extracts of registration particulars
  • Keeping track of outstanding tax returns or payments (if any)
  • Updating the personal and business particulars
  • Obtain an estimation of Salaries Tax payable
  • Making enquiries about personal tax matters
  • Applying for provisional tax holdover
  • Stamp property documents
  • Submitting requests for assessment amendments
  • Viewing tax returns which have been filed online. It also tackles tax assessments and payment acknowledgement

Apart from filing taxes individually, one may choose to engage with a professional service firm for additional professional assistance. Paul Hype Page has over 12 years of experience in the Hong Kong financial sector, and we can provide the necessary information one might require when managing taxes.

Thinking of incorporating in Hong Kong? Let’s get started. 
E A S I E R • F A S T E R • B E T T E R

 

Organization Chart of Inland Revenue Department 

Organization Chart of IRD

 

IRD Collections

The Department’s revenue collection for 2018-19 was $341.4 billion. This is an increase of $12.8 billion, or 3.9% as compared to the previous year. Of the total revenue collected, Profits Tax and Stamp Duty together contributed 72.2%.  The revenue collected by tax type for the latest three years is shown below:

Table IRD Collections

Inland Revenue Department in Hong Kong FAQs

Can I make an extension when filing for tax deadline?2020-08-05T09:36:28+00:00

The IRD under the direction of the Commissioner of Inland Revenue may also choose to make an extension to the filing deadline or any other tax deadlines if such an act is deemed suitable.

How much tax do I have to pay for foreign sourced income?2020-08-05T09:33:19+00:00

The Hong Kong government does not charge taxes on the foreign sourced income. 

How often do I have to file my taxes?2020-08-05T09:31:06+00:00

Once a year in Hong Kong. 

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