It may take some time.” There are about 1.9 million salaries tax payers in Hong Kong. 2. Inland Revenue Department (Hong Kong) From Wikipedia, the free encyclopedia. Reporting Portal is a system designated by the Commissioner under Part 9A of the Inland Revenue Ordinance (Cap.112) for Reporting Entity to submit notification and CbC Return to the Inland Revenue Department (the Department). For those calling from places outside Hong Kong, please dial the area code "852" before the telephone number (not applicable to overseas offices). Full Name Post Title Office Tel Email; Mr. TAM Tai Pang, JP: Comr of Inland Revenue (Acting) 2594 5001: Mr. LEUNG Kin Wa: Dep Comr (Operations) (Acting) 2594 5006: Ms. LEUNG Wing Chi: Dep Comr (Tech) (Acting) 2594 5002: Service Name Bureau / Department / Related Organisation Office Tel Email; Enquiry - General: Inland Revenue Department: 187 8088: … So, you’ll soon be well acquainted with Hong Kong’s Inland Revenue Department. Get the latest KPMG thought leadership directly to your individual personalized dashboard. Hong Kong: Amendments to CRS provisions Hong Kong: Amendments to CRS provisions The Inland Revenue Department announced changes to provisions of the Inland Revenue Ordinance concerning the common reporting standard (CRS) regime. Related content. This tax system is a major contributing factor to the economic development and competitiveness of Hong Kong. For more details on how the Unified Funds Tax … Wong Kuen-fai has been the Commissioner of Inland Revenue Department since 2013. We also administer a number of social support programmes including Child Support, Working For Families Tax Credits, and Best Start. ●        Assess tax assessments and payment acknowledgement. 011 - 233 4400. It has no capital gains tax or dividends tax, and most interest income is tax-free. The KPMG logo and name are trademarks of KPMG International. Contact Supplier. A Brief Explanation of One of HK’s Services: the eTAX. All rights reserved, A 4 Minute Guide to the Inland Revenue Department in Hong Kong. So, you’ll soon be well acquainted with Hong Kong’s Inland Revenue Department. Among his roles are to ensure that the IRD raises sufficient tax revenue for the government to deliver a wide range of social services, maintain the integrity of the tax system. On 18 September 2020, the Inland Revenue Department (IRD) issued an updated guidance Departmental Interpretation & Practice Notes No. We collect most of the revenue that the New Zealand government needs to fund its programmes. Inland Revenue Department (Advertising Period Expired) Hong Kong. Our Services. 6 November 2020 . As your business expands, the amount of paperwork would increase. Since its reunification with China, Hong Kong has followed the principle of "one country two systems"; it practises an independent taxation system. The "TIN" shown on the Tax Return-Individuals and related Notice of Assessment is solely for login onto "eTAX" account and access to the e-services provided by the Inland Revenue Department. The Inland Revenue Department (IRD) is the Hong Kong government department responsible for collecting taxes and duties. Office Tel: 187 8088: Email: Remarks: 1. When Was the Inland Revenue Department Established. tax on property rental income), both of which would require businesses to interact with the IRD in Hong Kong. A little trivia: did you know that in Hong Kong Inland Revenue Department’s first financial year, 1947-48, HKD 14 million was collected? About HKICL . Option . No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. Later on, it was given the responsibility for estate duty, stamp duty, entertainment tax, betting duty, public dance-halls tax, business registration and hotel accommodation tax. Here are 5 Reasons why your small business might need to work with an Accounting Firm. Our privacy policy has been updated since the last time you logged in. Only business profits, salaries and wages, and property rental income are subject to tax. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. 011 - 213 5420 011 - 233 7777: cgir@ird.gov.lk bandara.hmwc@ird.gov.lk. Since a company secretary is a must, find out why you need one, what their roles are and how best to choose one. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. Director of Audit's reports Inland Revenue Department. The definition of “controlling person” by removing the 25% threshold (previously applicable to partnerships and trusts), The due diligence requirements to specify that in determining “controlling persons” of an account holder of a new entity account, a reporting financial institution may rely on information collected that is pursuant to the anti-money laundering or “know your customer” procedures. Section/Rule No. What Instances Would Businesses Need to Interact with Inland Revenue Department? Tips to run your business smarter. This is also how the government earns revenue to fund its activities of governing the country. Inland Revenue Hong Kong Contact Phone Number is : 187 8088 and Address is PO Box 28777, Gloucester Road Post Office, Hong Kong The Inland Revenue Department is also known as IRD which is a Hong Kong Government department. As your business grows, the amount of paperwork would also increase and become more time consuming. Welcome to Inland Revenue's Secure Online Services. If you will be leaving Hong Kong permanently, you can withdraw your MPF before reaching the retirement age of 65. Office Tel: 187 8088: Email To ease your load, you may think of getting help by hiring or engaging a service provider. View company profile, check out qualified supplier, trader, manufacturer, vendor, distributor information on HKTDC Sourcing . For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance. Please note that your account has not been verified - unverified account will be deleted 48 hours after initial registration. DMOZ Information: Inland Revenue Department Department news and history, publications and press releases, policies, tax information for businesses and individuals, public … The Hong Kong government has put in place a few financing schemes to support the growth of these smaller businesses through financing and loan guarantees. 1. The new injection of funds will assist Osome in its vision to help company founders cope with tedious but unavoidable tasks which entrepreneurs usually outsource. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. You will not continue to receive KPMG subscriptions until you accept the changes. In June, 2020 the Inland Revenue Department ("IRD") issued Departmental Interpretation and Practice Note 61 ... 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