There are several important responsibilities which are to be performed by the Commissioner of Inland Revenue. These tasks are necessary in order to ensure that the tax system of Hong Kong is able to operate optimally.
Overseeing the administration of Tax Ordinances
Among the primary responsibilities of the Commissioner of Inland Revenue is that of overseeing the administration of some of Hong Kong’s most significant tax ordinances. Among the ordinances which fall under the purview of the Commissioner of Inland Revenue include:
- the Stamp Duty Ordinance,
- the Business Registration Ordinance,
- the Betting Duty Ordinance,
- the Tax Reserve Certificates Ordinance, and
- the Inland Revenue Ordinance.
Each of these ordinances, plays a vital role within the tax system of Hong Kong. Their use and enforcement are managed by the Commissioner of Inland Revenue, and this fact thus makes that one of the key responsibilities to be fulfilled.
Notice of Tax Compliance
The Commissioner of Inland Revenue also receives notifications from taxpayers for the purposes of tax compliance. All taxpayers of Hong Kong are legally obliged to inform the Commissioner of Inland Revenue that they are chargeable for tax purposes at a point sooner than four months after the conclusion of the relevant year of assessment. However, this requirement does not apply to any taxpayer who has already received an individual tax return.
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. One example of such an extension took place in 2020, when both the individual tax returns deadline and the profit tax returns deadline were both delayed by one month.