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Tax settlement

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  1. #1

    Join Date
    Nov 2021
    Posts
    59

    Tax settlement

    Hi All,

    I am moving to India next month from Hongkong for good. May I know the formalities to be done while leaving HongKong?

    Will showing HKID card number be enough for being a taxpayer, while showing any document for proving my tax payer status, in India?

    Please let me know anything needed to be done.


  2. #2

    Join Date
    May 2021
    Posts
    1,733

    There are plenty of threads on final proceedings before leaving HK including settling final tax bill, withdraw MPF etc.. Just dig in, you will get enough clarity..

    while showing any document for proving my tax payer status, in India?
    Were you a resident tax payer (As in Tax status Resident Indian as opposed to NRI) in India in last year or few years or did you have income in India? Otherwise you are finishing your FY 2021/22 in HK and moving back to India to start a new inning in new year, it is pretty straight forward. For proof of Tax paid in HK, always better to keep copy of Tax Demand note of whatever number of years you stayed in HK.

  3. #3

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    47,967

    Read these three threads...

    Name:  Screenshot 2022-04-13 at 10.04.14 AM.png
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    https://geoexpat.com/forum/329/

    vyral_143 likes this.

  4. #4

    Join Date
    Nov 2021
    Posts
    59

    Thanks for help and reference links. I am leaving HK in the first week of May . So, how long will it take for tax clearance and MPF withdrawl tasks to get settled in HK?


  5. #5

    Join Date
    Nov 2021
    Posts
    59

    Informed the employer before one month of leaving

    Quote Originally Posted by ndt:
    There are plenty of threads on final proceedings before leaving HK including settling final tax bill, withdraw MPF etc.. Just dig in, you will get enough clarity..



    Were you a resident tax payer (As in Tax status Resident Indian as opposed to NRI) in India in last year or few years or did you have income in India? Otherwise you are finishing your FY 2021/22 in HK and moving back to India to start a new inning in new year, it is pretty straight forward. For proof of Tax paid in HK, always better to keep copy of Tax Demand note of whatever number of years you stayed in HK.
    Hi,

    I've informed my employer before 1 month of leaving and haven't received any information to settle the tax or MPF withdrawl, I would like to know if the tax settlement form has to be filled by me as an individual or it will be done on behalf of my employer.

    I've 2 weeks left for leaving and I am worried about the penalty, if anything be imposed for my ignorance for tax filling.

    Thanks

  6. #6

    Join Date
    Feb 2005
    Location
    Manchester, UK
    Posts
    7,790

    Read JOYS OF CLEARING TAX before leaving HK
    I wrote that!!!

    shri likes this.

  7. #7
    Quote Originally Posted by sw_star:
    I would like to know if the tax settlement form has to be filled by me as an individual or it will be done on behalf of my employer.
    Your employer would give you IR56G form. With that form, follow what @Chuckster007's thread says. If your employer have not yet given IR56G form, you need to follow up ASAP.

  8. #8

    Join Date
    Nov 2021
    Posts
    59

    Thanks for the information. I wasted my time waiting for my employer to give instruction to proceed in this matter ,just 2 weeks left for me to settle all of it. I am panicking now!


  9. #9

    Join Date
    Feb 2009
    Posts
    8,280

    Did you employer say they will hold your last months salary until you give them "Release letter" from IRD office? Or they will still pay your last month salary even without the letter? Some employers will strictly require this letter and others are a bit more relaxed about it.


  10. #10

    Join Date
    Nov 2021
    Posts
    59

    Need to ask

    Thanks for the information. I've not received any information about holding my last month's salary by the employer as of now. Looks like I need to contact the HR department/Accounts Department as soon as possible in order to clear things out.


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