News Archives (started from April 2017)

Stamp Duty statistics (SSD / BSD / DSD) have been uploaded to the Department’s website

The CbC Reporting Portal was launched today (5 March).  Hong Kong Ultimate Parent Entities of Reportable Groups (HK UPEs) can now file CbC Returns for accounting periods beginning between 1 January 2016 and 31 December 2017 via the Portal voluntarily.  HK UPEs intending to make such filings have to register on the Portal.  They are required to use an e-Cert (Organisational) with AEOI Functions for the purpose of authentication.  The Portal can be accessed through https://aeoi.ird.gov.hk/cbc.  Details relating to CbC Reporting are available on the IRD's webpage www.ird.gov.hk/eng/tax/dta_cbc.htm.

The Amendment Ordinance increases the ad valorem stamp duty (“AVD”) rate on certain instruments executed on or after 5 November 2016 for dealing with residential properties to a flat rate of 15%.  For Hong Kong permanent residents who change their residential property and wish to claim partial refund of the AVD paid on acquisition of the new property,  the Amendment Ordinance also extends the time limit for the disposal of the original property from within 6 months to within 12 months after the date of conveyance of the new property.   Please refer to Stamping Circulars Nos. 02/2018 and 03/2018 for the new stamping arrangements.  The FAQs and the illustrative examples for AVD - Scale 1 and Scale 2 have also been updated.

Only Registered Occupational Retirement Schemes are Non-reporting Financial Institutions  

Webpage relating to occupational retirement schemes has been created to clarify that only occupational retirement schemes registered under the Occupational Retirement Schemes Ordinance (Cap. 426) qualify as non-reporting financial institutions.  You may click here for details.

AEOI Account Registration and Reporting by Investment Funds and Umbrella Funds

Webpage relating to AEOI Portal has been updated to provide investment funds and umbrella funds further guidance on registration of AEOI Account and reporting requirements. You may click here for details.

Post Office Boxes of IRD

The IRD recently received enquiries about Tax Returns - Individuals issued by the IRD and the post office boxes shown on the reply envelopes.  Please note that details of the post office boxes used by the IRD are available on our website.  Members of the public may visit the IRD website's "Post Office Boxes of IRD" page under "Contact Us" or click the above link for verification.

Guidance for Financial Institutions Updated

Chapters 11 and 12 of the Guidance for Financial Institutions have been updated to include the procedures that reporting financial institutions must apply in respect of entity accounts if there is a change of circumstances that causes the financial institutions to have reason to know that the self-certification or other documentation associated with the account is incorrect or unreliable.