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Hong Kong – COVID-19: Updates to 2019-20 Tax Season

Hong Kong – COVID-19: Updates to 2019-20 Tax Season

The Hong Kong Inland Revenue Department (IRD) has announced the issuance of tax returns for the 2019-20 tax filing season – which includes individual tax returns being issued one month later than in prior years. This is to afford taxpayers impacted by the upheavals due to the coronavirus and COVID-19 crisis a little more time to organise their tax affairs.

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The Hong Kong Inland Revenue Department (IRD) has announced the issuance of tax returns for the 2019-20 tax filing season – which includes individual tax returns being issued one month later than in prior years.  This is to afford taxpayers impacted by the upheavals due to the coronavirus and COVID-19 crisis a little more time to organise their tax affairs.

In this GMS Flash Alert we highlight some of the key tax measures announced affecting individuals and their employers.  (For related coverage, see GMS Flash Alert 2020-142, 2 April 2020.) 

WHY THIS MATTERS

The delayed issuance of 2019-20 Individual Tax Returns will impact the timing of employees’ tax filings.  In contrast, 2019-20 Employers’ Returns had already been issued on 1 April 2020, in line with previous years.  Global mobility teams should take these updates into account when considering individual tax compliance processes and related employee communications.

Tax Returns Issuance Timeframe

The issuance of tax returns for the year of assessment 2019-20 is as follows:1

  • 2019-20 Employer’s Returns and Property Tax Returns issued on 1 April 2020 – in line with previous years;
  • 2019-20 Individual Tax Returns will be issued on 1 June 2020 – one-month later than usual;
  • 2019-20 Profit Tax Returns will be issued on 4 May 2020 – one-month later than usual.

Tax Administration: Reduced Services, Limited Openings/Hours

As at the date of publication of this newsletter, limited service arrangements are being implemented by Hong Kong’s government to reduce social contact in view of the COVID-19 pandemic.  The IRD has suspended services except for the Central Enquiry Counter (only for enquiries relating to tax clearance for taxpayers leaving Hong Kong), Business Registration Office, and Stamp Office.  All visitors entering and remaining in the Department premises are required to wear surgical masks in light of public health considerations.2

Other Tax Compliance Deadline Changes

The IRD further announced that deadlines for tax payments, lodgement of objections and hold-over applications, as well as submission of tax returns and information, that fall between 23 March to 3 May 2020, are automatically extended to 4 May 2020.3  The IRD will continue to review the situation and make further announcements as necessary.  

FOOTNOTES

1  For the text of IRD's arrangements for the issuance of tax returns for 2019-20, see: https://www.ird.gov.hk/eng/ppr/archives/20033001.htm

2  For the text of the latest arrangements for the IRD’s public services, see: https://www.ird.gov.hk/eng/ppr/archives/20032201.htm

3  For the text of the IRD’s extended tax deadlines, see: https://www.ird.gov.hk/eng/ppr/archives/20040401.htm

Thought Leadership from KPMG

KPMG LLP (U.K.) Is Holding a COVID-19 Webinar Series: Tax & Legal Considerations

As businesses work through the government support measures available and adapt to the implications of COVID-19, a raft of issues are facing tax teams and business leaders. Businesses need to make sure they enhance the support available through tax, and that short-term measures taken today don’t cause long-term tax or legal risks

Date: Thursday, April 09, 2020

Time: 12:00 PM BST

To register and for more information, click here.

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The information contained in this newsletter was submitted by the KPMG International member firm in Hong Kong.

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