News Archives (started from April 2023)

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

The Inland Revenue (Amendment) (Aircraft Leasing Tax Concessions) Bill 2023 has been introduced into the Legislative Council to amend the Inland Revenue Ordinance to enhance the aircraft leasing regime.  Some Frequently Asked Questions (FAQ) in relation to the proposed enhanced aircraft leasing regime have been uploaded to the Department’s website.

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

• The newly published Advance Ruling Case No. 73 concerns tax concessions for a family-owned investment holding vehicle and a family-owned special purpose entity.
• The webpage on Tax Concessions for Family-owned Investment Holding Vehicles has been updated to provide further guidance on substantial activities requirement and information required for application for advance ruling.

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

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

Departmental Interpretation and Practice Notes No. 63 has been issued to set out the Department’s interpretation and practice on the provisions and tax treatment in relation to (a) court-free amalgamations; and (b) transfer or succession of assets without sale under certain circumstances after the enactment of the Inland Revenue (Amendment) (Miscellaneous Provisions) Ordinance 2021.

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

On 25 October 2023, the Chief Executive announced the following proposals for residential property transactions:

• shortening the resale period during which the Special Stamp Duty can be charged from three years to two years
• reducing the ad valorem stamp duty rate of Part 1 of Scale 1 from 15% to 7.5%
• reducing the rate of Buyer’s Stamp Duty from 15% to 7.5%
• introducing a stamp duty suspension mechanism for eligible incoming talents purchasing residential property in Hong Kong

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

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

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

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

The website has been updated to provide information on the new procedures on application for recognition of tax exemption status under section 88 of the Inland Revenue Ordinance and the potential profits tax liabilities for tax-exempt charities.

Organisations wishing to seek recognition as tax-exempt charities are now required to submit an application form together with the documents specified therein.  Guidance on writing charitable purposes in the governing instrument is also provided to assist organisations in preparing their governing instruments.  Please visit our website www.ird.gov.hk/eng/tax/ach.htm for details.

The Departmental Interpretation and Practice Notes No. 54 has been updated to clarify that a beneficial owner of an aircraft under a bare trust arrangement would be entitled to the tax concessions under the aircraft leasing regime provided that the specified conditions are satisfied.

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

(No. 68 & 69)

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

Tax returns for individuals for this year have been issued.  Members of the public may now login eTAX accounts to handle tax affairs with "iAM Smart" directly without TIN and password. "iAM Smart+" users may sign and submit tax returns online with digital signing function easily. For details of "iAM Smart", please visit the "iAM Smart" thematic website：iamsmart.gov.hk

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

The Department today (April 1) launched the enhanced e-filing services for profits tax returns to promote tax digitalization and to enhance the efficiency, reliability and accuracy of tax filing. Starting from this year, all corporations and businesses can e-file profits tax returns through eTAX for the year of assessment 2022/23 and attach the required supplementary forms and other forms in XML format and the supporting documents in iXBRL format. Taxpayers are encouraged to e-file their profits tax returns, details of which can be found on the webpage (www.ird.gov.hk/e_epf and www.ird.gov.hk/ixbrl).