Employer’s Returns of Remuneration and Pensions (Form BIR56A) were issued on 1 April 2022. Employers are required to complete and return the form to the Inland Revenue Department within one month together with the Form IR56B for the relevant employees. However, the deadline for filing of Employer's Returns for the year then ended is extended to 1 June 2022. Employers can also file the returns via the Internet through the e-filing service for Employer’s Returns under eTAX.
April 2022 / Hong Kong
The Government welcomed the Legislative Council’s passage of the Revenue (Tax Concessions) Bill 2022 today.
The endorsement will realise the tax concessions proposed in the 2022-23 Budget, which reduces the salaries tax, tax under personal assessment and profits tax for the year of assessment 2021/22 by 100%, subject to a ceiling of $10,000 per case.
Secretary for Financial Services & the Treasury Christopher Hui said: “The tax concessions will benefit about 2.01 million taxpayers of salaries tax and tax under personal assessment, and 151,000 tax-paying businesses, with the total government revenue forgone amounting to about $14.3 billion.”
The Inland Revenue Department will reflect the tax reductions in the upcoming tax demand notes, the Government added.