About 2.77 million tax returns are being issued today to inidividuals, the Inland Revenue Department said. Taxpayers are required to file their tax returns by July 2. For sole proprietors of unincorporated businesses, a three-month period is allowed and the filing deadline is September 1. deadline for general cases extended to August 3 whereas deadline for sole proprietors extended to October 3). In the budget for this year, the Financial Secretary has proposed a 100 percent reduction of profits tax, salaries tax and tax under personal assessment for the year of assessment 2019/20, subject to a ceiling of HK$20,000 per case.

Source: The Standard June 01, 2020 06:22 UTC