Hong Kong Taxation Services
NEWS: Relocation of the Inland Revenue Centre from WanChai to Kai Tak
The Inland Revenue Centre, a new dedicated building for the Inland Revenue Department, will be open for use in late 2022. A majority of the offices of Units/Sections of the Inland Revenue Department will be relocated to the new building by phases by late 2022/early 2023.
The Inland Revenue Centre is located at Kai Tak Development Area adjacent to the Trade and Industry Tower and MTR Kai Tak Station and has a site area of about 9,832m2. The main building consists of 17 storeys above ground and a single-storey basement. A number of environmental-friendly, energy-saving facilities and greening designs have been incorporated into its design as well as various public-friendly facilities.
Corporate Tax
Hong Kong adopts territorial tax system. Profits tax shall be charged on every person carrying on trade, profession or business in Hong Kong in respect of the profits arising in or derived from Hong Kong from such trade, profession or business regardless of the nationality, domicile or residence of a person.
Individual Tax
Hong Kong salaries tax is charged on every individual in respect of his/her income arising in or derived from any office, employment or any pension in Hong Kong. All income from a “Hong Kong sourced employment” is liable to tax irrespective of the locations for rendering the services, subject only to certain statutory exemptions.
Tax Investigation and Filed Audit Support
Hong Kong upholds simple tax system and its tax rate is one of the lowest in the world which requires a high degree of compliance of taxpayers. In order to protect government revenue, the IRD will review the submitted tax returns periodically by way of field audit and investigation.
Tax Policies in Hong Kong
Double Taxation Relief / Withholding Taxs / Advance Ruling in Hong Kong
/ Common Reporting Standard ("CRS") and Automatic Exchange of Financial Account Information ("AEOI")
/ Common Reporting Standard ("CRS") and Automatic Exchange of Financial Account Information ("AEOI")