your legal obligations
If you break the
tax law, you have to pay a price. The price may be tax investigation,
money fines or even criminal prosecution. So, beware of the
requirements of the Inland Revenue Ordinance. Here are some tips for you.
Don't file an
incorrect tax return. Make sure every item you put down is true.
File the tax
return promptly. Ask for extension of time limit if you cannot make it
Make sure all the
information you supply to the Revenue is true. If the information
required is unavailable, say so to them.
information supplied to the Revenue turns out to be incorrect, inform
them right away.
Pay tax on time.
Jot down the due date in your diary. Beware: the surcharge on unpaid tax
is very high, much more than the prevailing market interest rates.
If you are liable
to tax and do not receive a tax return within 4 months after the year of
assessment, inform the Revenue.
If you cease to
have a source of taxable income, inform the Revenue within one month.
If you are
leaving Hong Kong for good, inform the Revenue at least one month before
If you change
your address, inform the Revenue within one month.
records for 7 years.