Tax refund if income is lower

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  1. #1

    Join Date
    Oct 2006
    Posts
    34

    Tax refund if income is lower

    Hi all,

    I still don't fully understand HK taxes. Does the provisional tax cover Apr 2007-Mar 2008 or 2008 to 2009? If the former, what will I need to do if my finances change, i.e. decrease, before Mar 2008? Thanks!


  2. #2

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    The tax bill that you pay in January & April 2008 is any adjustment necessary for the year April 2006- March 2007, plus provisional tax for the year April 2007 - March 2008.

    If your circumstances have changed substantially then you can write to the tax department outlining your situation and asking them to recalculate your provisional tax.