Get Notification Of Chargeability To Salaries Tax Notification Of Chargeability To Salaries Tax - Ird

A system of provisional tax payments applies whereby estimated tax payments are made during the current year. The provisional salaries tax payable is normally estimated based on the previous year's net chargeable income.

Salaries, Wages and Director's fees Any salary, wages or director's fees you earn are chargeable to salaries tax, and the gross amounts before the deduction of your contributions to a recognised occupational retirement scheme or mandatory provident fund scheme should be reported.

The amount of a failure to notify penalty is calculated on the basis of a percentage of potential lost revenue – this means the amount of tax unpaid by the relevant payment deadline as a result of the failure to notify.

Penal Actions for Non-compliance A person who fails to comply with the requirement to notify chargeability might be prosecuted under section 80(2) or subject to Additional Tax under section 82A of the Ordinance.

HMRC will normally issue a notice (CT603) to the company requiring it to file a corporation tax return. If such a notice is not issued, the company is required to notify chargeability within 12 months from the end of that accounting period.

If the error is careless, the penalty will be between 0 and 30% of the extra tax due. If the error is deliberate, the penalty will be between 20 and 70% of the extra tax due. If the error is deliberate and concealed, the penalty will be between 30 and 70% of the extra tax due.

The penalty range for a non-deliberate failure to notify with a prompted disclosure more than 12 months after the tax was due is 20% to 30% of the 'potential lost revenue' (PLR).

If payment vouchers are printed with barcode, you can present the voucher and pay tax, Business Registration Fee and e-Stamping payment at any 7-Eleven Convenience Store, Circle K Convenience Store, VanGO Convenience Store and U select in Hong Kong. Cash payment up to HK$5,000 per transaction is accepted.