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Tax settlement

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  1. #11

    Join Date
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    薄扶林
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    Would it not make more sense to talk to your boss / business owner / HR of your company and ask them what is going on, over posting on forums?

    Ask them what the status is and then come back with more information if you need help. You're just repeating the same thing in two different threads.

    aw451 and calmathetic9 like this.

  2. #12

    Join Date
    Sep 2017
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    Mid-Levels
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    So how long will it take = depends on what kind of gifts you take for the babus

    jokes apart, it a process that requires someone to do some work once you submit all relevant documents and complete tasks on your end. In current times, it would be fair to expect some delays, although with govt staff returning back to offices, hopefully things will start to move quicker. There is likely a backlog that they have to go through as well.

    These forum links provided above are very good collection. While I have not had to use it, I do follow them, and when I do get to that stage, I will definitely be going through those forums for making sure I have ticked all the boxes.


  3. #13

    Join Date
    Nov 2021
    Posts
    59

    Update : I asked my employer about the scenario, they will hold my last month's salary and will give it only upon receiving the release letter.

    I've already mailed the IRD about my permanent departure. Do I have to book an appointment for visiting IRD and settle the task or directly go to IRD with IR56G form that I received from my employer?


  4. #14

    Join Date
    Feb 2005
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    Manchester, UK
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    7,790

    read the 1st page replies, i have written guidelines on how to clear tax


  5. #15

    Join Date
    Feb 2007
    Location
    Shek Tong Tsui (HK Island)
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    263

    Go and read the post by chuckster007 Have added the link below....

    Joys of Clearing Tax before leaving HK guide
    This is a mind numbing guide on how to clear your tax so that you can get your last salary and apply for MPF withdrawal:
    Part 1 (10.30am arrival to IRD)

    1. Go to Inland revenue building
    2. go up escalator to 1st floor and press the A button to get a number, once your number is called hand over your IR56G form and HKID card .... <read the rest yourself>

    https://geoexpat.com/forum/329/thread363286.html


  6. #16

    Join Date
    Nov 2021
    Posts
    59

    Post Yes,I'm following Chuckster's post

    Quote Originally Posted by LifeInHK:
    Go and read the post by chuckster007 Have added the link below....

    Joys of Clearing Tax before leaving HK guide
    This is a mind numbing guide on how to clear your tax so that you can get your last salary and apply for MPF withdrawal:
    Part 1 (10.30am arrival to IRD)

    1. Go to Inland revenue building
    2. go up escalator to 1st floor and press the A button to get a number, once your number is called hand over your IR56G form and HKID card .... <read the rest yourself>

    https://geoexpat.com/forum/329/thread363286.html
    Looks like it will consume a day and I'll keep this task after I settle some task at IMMD .

  7. #17

    Join Date
    Feb 2009
    Posts
    8,280
    Quote Originally Posted by sw_star:
    Looks like it will consume a day and I'll keep this task after I settle some task at IMMD .
    Bring cash with you (to pay your tax for this year) if you want to get release letter on same day. If you pay your tax electronically, or by cheque, ATM transfer, etc, then need to wait a few days for clearance and go back a second time to get the release letter to give to your employer.

    Also open TVC account and deposit $60k before you go to tax office if you want to get free $10,000 departure gift from government. Then after you get release letter, you can close both MPF and TVC at the same time. If you are not interested in $10,000 gift, then you can forget this part.

  8. #18

    Join Date
    Nov 2021
    Posts
    59
    Quote Originally Posted by bdw:
    Bring cash with you (to pay your tax for this year) if you want to get release letter on same day. If you pay your tax electronically, or by cheque, ATM transfer, etc, then need to wait a few days for clearance and go back a second time to get the release letter to give to your employer.

    Also open TVC accound and deposit $60k if you want to get free $10,000 departure gift from government. Then after you get release letter, you can close both MPF and TVC at the same time. If you are not interested in $10,000 gift, then you can forget this part.
    Do I have to calculate tax on my own to bring cash in advance or have to look for near by ATM to withdraw? I just want to get the release letter in the same day, no time to afford one extra day.

    What's TVC ? I've just 5 working days in my hand to settle tax stuff and MPF.

  9. #19

    Join Date
    Nov 2021
    Posts
    59

    Post To get the Release Letter on the same day

    Quote Originally Posted by chuckster007:
    read the 1st page replies, i have written guidelines on how to clear tax

    As I've very few days; 4 working days left to settle IIMD task and IRD tasks[adding to this ,I can only take a day leave from my office :'( ],I want to get the release letter on the same day. Do I have to pre-calculate my tax and get the cash in hand in order to speed up the process?

  10. #20

    Join Date
    Feb 2007
    Location
    Shek Tong Tsui (HK Island)
    Posts
    263

    No need to do any calculation. The tax office will do the calculation for you. Just bring your bank account card and your identity (HKID); and the IR56 forms. After the tax office has finished the calculation.... they will give you the $ amount. Then you go to the bank and withdraw the cash. With all the taxbreaks that the government gave last year, you may end up with the tax office giving you money.

    Almost every bank has a branch in Wanchai area or nearby to the HK Tax office. Go to your own bank website , find the nearest branch/ATM machine.

    if you donot know what is TVC, then ignore it.

    Quote Originally Posted by sw_star:
    As I've very few days; 4 working days left to settle IIMD task and IRD tasks[adding to this ,I can only take a day leave from my office :'( ],I want to get the release letter on the same day. Do I have to pre-calculate my tax and get the cash in hand in order to speed up the process?
    Last edited by LifeInHK; 26-04-2022 at 03:21 PM. Reason: tax calculation