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  • 1 Post By civil_servant

Tax Returns

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  1. #1

    Tax Returns


    I started a new sole proprietorship business few months ago for the first time and currently have no revenue. I believe the deadline is approaching and don't know how to file my tax returns. Will they send a form to me? but I haven't received anything yet. Do I have to get this form somewhere and fill out?
    Hope you guys with experience can help me out.

    Thank you.

  2. #2

    Join Date
    Nov 2007

    They will send you the forms i believe. This is what happens for profits tax returns, i assume it's the same for sole proprietorship.

    Dont take my word for it though check with the IRD

  3. #3

    Thanks for your replies.

    I never filed any tax returns before, so don't have a TIN number yet.
    They didn't send me any tax letters this year, and the deadline is fast approaching, I am worried and not sure what to do. Initially I was going to fill out using eTAX before the deadline, but now notice that I can't register as I have no TIN number. Do you think its best to call them or visit the tax office in wan chai?

  4. #4

    Join Date
    Apr 2017

    Your TIN is technically your HKID number. I'm not sure how it works for etax (whether you get assigned a new number or not).

    If you have never filed a tax return before, you will have to wait until you receive one. Typically this happen 18-24 months after registering your sole proprietership. If you don't receive the form, don't worry about it this financial year.

    When you eventually do get the return, only file it for the year in question. The IRD will decide if they want you to back-file previous years of business operation (most likely yes, so keep all your documents).

    Definitely call them if you are unsure. The english-language hotline is helpful (I might have said surprisingly but I'm sure the government wants every tax cent out of its populace).

    I am someone who has started both a limited company and sole proprietorship, having never filed a tax return previously, within the last 6 years, so this is all a pretty recent experience for me.

  5. #5

    A tax declaration is due 3 months after you receive the form from the IRD in the mail. That's usually 18 months after you opened a sole proprietorship. But currently, due to work from home rules, everything gets delayed. Make sure there are no mistakes, such that the address on your business license differs from your actual address. Once you've checked that, you can sleep tight and wait until the forms arrive in the mail.

  6. #6

  7. #7

    Thanks for all your replies, they have been really helpful.

    I prefer to email them than calling them, but heard they reply very slow and not sure what happens if past the deadline on Sept 1st.

  8. #8

    I am looking at an old "Review of Tax Liabilities" letter sent to me in 2015/2016, this was well before I registered a business.

    It says I am not required to return this letter if none of the above conditions are satisfied, and I never have any of the conditions satisfied even now.

    Say if I receive the same letter this year (not sure if they have sent one to an old correspondence address), I can still ignore it? since both conditions (a) and (b) is not met. Is this correct? Or do I still need to file a tax return? I am confused, as I read somewhere that I would still need to file a tax return even if my sole proprietorship business makes no income?