As one of our core services, our team includes experienced tax experts in handling individual tax cases with pro-active attitude in discovering tax opportunities and risks of your personal tax position.
We can assist you on the following services:
Compliance Services
Status | Normal Due Date for filing Individuals Tax Return | Extended Due Date for represented cases |
|---|---|---|
Not involving sole-proprietorship | Within 1 month from the date of issuance | 3 July 2021 |
Involving sole-proprietorship | Within 3 months from the date of issuance | 4 October 2021 |
Employment Status | Due Date for filing the Form |
|---|---|
Continuous employment | Within 1 month from the issue date of the Employer’s Return |
Under Non-Hong Kong employment, employment income is taxed in Hong Kong on a time-apportionment basis. Three factors will determine whether it is Hong Kong or non-Hong Kong employment
The factors to determine the source of Employment Income and Director Fee are different. Offshore sourced income is not subject to Hong Kong Salaries Tax.
Tax credit calculation could be complex, but it is an effective tool to avoid double taxation. Keep your foreign tax payment receipt and apply for Tax Credit Claim in your Hong Kong Salaries Tax filing.
Reference: https://www.ird.gov.hk/eng/pol/dta.htm
Advisory Services
It is common for Hong Kong individual to work in the PRC while PRC individuals to work in Hong Kong. Under two different tax systems, proper tax planning would help reduce the tax rates of Employment Income and Investment Income.
With proper tax planning and monitoring, Housing Allowance is taxed at the lower of 4%/8%/10% of the remuneration and rental reimbursement. It is an effective tool to save your Hong Kong Salaries Tax liabilities.
It is much easier for External Consultants to pursue expense deduction claim than Internal Staff. The IRD has its own set of rules to determine whether you are an Internal Staff or an External Consultant. With Proper Tax Planning and Reporting, your Personal Tax Liabilities could be significantly reduced.
Expense deduction claim has been a headache for sole proprietor. Aggressive / Unreasonable / False expense deduction may trigger challenges from the IRD. In the worst case, severe penalty and imprisonment could be possible consequences.