Personal salaries tax in Hong Kong may not be as straightforward as one may think. There are various tax reporting and notification obligations with stipulated deadlines imposed to different parties, including employer and employee, under the Hong Kong tax law. Individual taxpayers may also mitigate their tax burden by claiming tax deductions, personal allowances and/or exemptions provided in local tax regulation or double tax treaty.
We can assist with providing tax advisory services to both employer and individuals regarding their personal tax obligations. In addition, we can review and explore for clients opportunities for reducing the tax liability in a legal and acceptable way as well as avoiding legal consequences for filling an incorrect tax return without reasonable excuse.
If necessary, we can assist our clients to prepare tax projections where their can well manage the cash flow for tax payment in advance. In summary, we can assist with:
Similarly, we can assist you with Mainland taxes such as China income taxes and global mobility tax issues.
Tax Clearance Services
According to the Inland Revenue Ordinance, where an individual, who is chargeable to tax, intends to depart from Hong Kong for good or for a period exceeding one month, he/she is obliged to notify the Hong Kong Inland Revenue Department (IRD) not later than 1 month before the expected date of departure and clear all the tax issues with the IRD before his/her departure.
His/her employer also has the informing obligation by filing the Form IR 56G to the IRD also not later than 1 month before the expected date of departure.
Our Hong Kong tax professionals can assist with the following: