The Inland Revenue Department today sent out about 2.62 million tax returns for individuals.
Taxpayers should file their tax returns by June 3. For sole proprietors of unincorporated businesses, a three-month period is allowed and the filing deadline is August 3. Those filing via eTAX will have an automatic one-month extension.
The Legislative Council has passed the Revenue (Tax Concessions) Bill 2021, giving effect to the proposal in this year’s Budget for a 100% reduction in salaries tax, tax under personal assessment and profits tax for 2020-21, subject to a ceiling of $10,000 per case.
Taxpayers should file their returns for 2020-21 as usual. The department will effect the reduction when making assessments.
The Inland Revenue Department will extend the service hours of the 187 8022 enquiry hotline to 7pm on weekdays, and from 9am to 1pm on Saturdays until July 2.