Paying taxes is an obligation, but do you know what provisional tax is? How do you calculate how much provisional tax needs to be paid? This article will tell you all about it, including the circumstances under which you can apply for a deferral of provisional tax payment, the methods for applying for a deferral of provisional tax, and the application deadline for deferred provisional tax. What is provisional tax (prepaid tax)? Why do you need to pay provisional tax? Provisional tax, also known as prepaid tax, is a tax that the Hong Kong Inland Revenue Department requires taxpayers to estimate the tax payable for the next year based on the income of the previous tax year according to the Inland Revenue Ordinance...

Wan Chai Inland Revenue Department moves to Kai Tak Tax Centre The Hong Kong Wan Chai Inland Revenue Department has been relocating to a new building in phases from December 2022 to May 2023. If you need to go to the tax building for various business matters, you need to pay attention! As of May 15, 2023, the original tax building in Wan Chai has completed its relocation to the Kai Tak Tax Building. The tax centre is located next to the Industrial and Trade Building, near San Po Kong and Kai Tak Station, and is a government office building in the Kai Tak Development Area, covering an area of approximately 9,832 square meters and standing 19 stories tall. The new design incorporates many environmentally friendly and energy-saving facilities and green spaces, and also provides multiple public...

Local limited companies are required to submit their annual return to the Companies Registry within 42 days from the anniversary of their incorporation. It turns out that different types of companies have different submission timelines. There are also many points to note between the different submission methods, and late submissions can incur a maximum fine of HKD $3,480. This article will share four important points to note when submitting the annual return.