11 June 2015
PROFITS TAX FOR PROPERTY OWNERS
Owners in receipt of rental income must inform the IRD in writing if they are liable to tax and supply the particulars of the property not later than 4 months after the end of the basis period for the year of assessment. Besides, owners chargeable to property tax must:
- Keep sufficient rent records, such as lease agreements and duplicates of rental receipts for at least 7 years.
- Inform the IRD of change of address in writing within 1 month.
- Inform the IRD of change of ownership in writing within 1 month.
Where a corporation has been exempted from property tax and there is a change in the ownership or use of the property, or in any other circumstances which may affect such exemption, the corporation must notify the IRD in writing of the change within 30 days after the event.
Should you require any assistance in relation to filing of Hong Kong tax return, please do not hesitate to contact us.
CONTACT PERSON
Derrick Liu
derrick@alcpa.com.hk
(852) 2574 8289 (Ext. 121)
Zita Ng
zita@alcpa.com.hk
(852) 2574 8289 (Ext. 117)
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