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| Agency overview | |
|---|---|
| Formed | April 1, 1947 |
| Headquarters | Inland Revenue Centre, 5 Concorde Road, Kai Tak, Kowloon, Hong Kong |
| Employees | 2,925 (2020–21) [1] |
| Agency executive |
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| Website | ird |
| Inland Revenue Department | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Traditional Chinese | 稅務局 | ||||||||||||
| Simplified Chinese | 税务局 | ||||||||||||
| Literal meaning | Tax Service Office | ||||||||||||
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The Inland Revenue Department (IRD) is the Hong Kong government department responsible for collecting taxes and duties.
The Inland Revenue Department was established on 1 April 1947. Initially it administered only one piece of legislation,the Inland Revenue Ordinance,which was enacted on 3 May 1947. [2]
The department subsequently absorbed various elements of the Treasury,including the Estate Duty Office (in 1949),the Stamp Duty Office (1956),and responsibility for collection of entertainments,bets and sweeps,and public dance-halls taxes (1956). [2]
In December 1979,the department's headquarters moved to Windsor House in Causeway Bay,a building that was specially designed with a second lift core for the department. [2] [3] In order to save on rental costs,the department moved again,in December 1991,to the eponymous government-owned Revenue Tower in Wanchai,where it remains headquartered as of 2020. [2]
The IRD is responsible for the administration of the following Hong Kong ordinances on taxes and duties and the related rules and regulations:
The Hong Kong Jockey Club (HKJC) was founded in 1884 and is one of the oldest institutions in Hong Kong. In 1960, it was granted a royal charter and renamed The Royal Hong Kong Jockey Club (英皇御准香港賽馬會). The institution reverted to its original name in 1996 due to the handover of Hong Kong in 1997. Membership of the club is by nomination and election.
The Inland Revenue was, until April 2005, a department of the British Government responsible for the collection of direct taxation, including income tax, national insurance contributions, capital gains tax, inheritance tax, corporation tax, petroleum revenue tax and stamp duty. More recently, the Inland Revenue also administered the Tax Credits schemes, whereby monies, such as Working Tax Credit (WTC) and Child Tax Credit (CTC), are paid by the Government into a recipient's bank account or as part of their wages. The Inland Revenue was also responsible for the payment of child benefit.
The City of Victoria, often called Victoria City or simply Victoria, was the de facto capital of Hong Kong during its time as a British dependent territory. It was initially named Queenstown but was soon known as Victoria. It was one of the first urban settlements in Hong Kong and its boundaries are recorded in the Laws of Hong Kong. All government bureaux and many key departments still have their head offices located within its limit.
Stamp duty is a tax that is levied on single property purchases or documents. A physical revenue stamp had to be attached to or impressed upon the document to show that stamp duty had been paid before the document was legally effective. More modern versions of the tax no longer require an actual stamp.
HM Revenue and Customs is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers. HMRC was formed by the merger of the Inland Revenue and HM Customs and Excise, which took effect on 18 April 2005. The department's logo is the St Edward's Crown enclosed within a circle.
The Customs and Excise Department (C&ED) is a government agency responsible for the protection of the Hong Kong Special Administrative Region against smuggling; the protection and collection of revenue on dutiable goods on behalf of the Hong Kong Government; the detection and deterrence of drug trafficking and abuse of controlled drugs; the protection of intellectual property rights; the protection of consumer interests; and the protection and facilitation of legitimate trade and upholding Hong Kong's trading integrity.
The High Court of the Hong Kong Special Administrative Region is a part of the legal system of Hong Kong. It consists of the Court of Appeal and the Court of First Instance; it deals with criminal and civil cases which have risen beyond the lower courts. It is a superior court of record of unlimited civil and criminal jurisdiction. It was named the Supreme Court before 1997. Though previously named the Supreme Court, this Court has long been the local equivalent to the Senior Courts of England and Wales and has never been vested with the power of final adjudication.
The District Court is the intermediate court system in Hong Kong, having limited criminal and civil jurisdictions. The District Court was established in 1953 with the enactment of the District Court Ordinance. It is located in the Wanchai Law Courts, Wanchai Tower, 12 Harbour Road. In the past there were six district courts, namely Victoria, Kowloon, Fanling, Tsuen Wan, Tuen Mun and Sha Tin, before being amalgamated and moved to the same location in March 1991.
Taxes in New Zealand are collected at a national level by the Inland Revenue Department (IRD) on behalf of the Government of New Zealand. National taxes are levied on personal and business income, and on the supply of goods and services. Capital gains tax applies in limited situations, such as the sale of some rental properties within 10 years of purchase. Some "gains" such as profits on the sale of patent rights are deemed to be income – income tax does apply to property transactions in certain circumstances, particularly speculation. There are currently no land taxes, but local property taxes (rates) are managed and collected by local authorities. Some goods and services carry a specific tax, referred to as an excise or a duty, such as alcohol excise or gaming duty. These are collected by a range of government agencies such as the New Zealand Customs Service. There is no social security (payroll) tax.
Salaries tax is a type of income tax that is levied in Hong Kong, chargeable on income from any office, employment and pension for a year of assessment arising in or derived from the territory. For purposes of calculating liability, the period of assessment is from April 1 to March 31 of the following year.
In Hong Kong, profits tax is an income tax chargeable to business carried on in Hong Kong. Applying the territorial taxation concept, only profits sourced in Hong Kong are taxable in general. Capital gains are not taxable in Hong Kong, although it is always arguable whether an income is capital in nature.
The Inland Revenue Ordinance is one of Hong Kong's Ordinances. It regulates the inland revenue of Hong Kong.
The Estate Duty Ordinance is one of Hong Kong ordinances. It regulates the HK estate duty which was a tax imposed on capital asset - the net value of property situated in Hong Kong at the date of the taxpayer's death. It is chargeable irrespective of whether the deceased was a resident of Hong Kong.
Commissioner of Inland Revenue v George Andrew Goepfert, also known as the Goepfert case, is a leading Hong Kong tax case, affecting jurisprudence relating to the territory's salaries tax.
Inland Revenue or Inland Revenue Department is the public service department of New Zealand charged with advising the government on tax policy, collecting and disbursing payments for social support programmes, and collecting tax.
Under Article 108 of the Basic Law of Hong Kong, the taxation system in Hong Kong is independent of, and different from, the taxation system in mainland China. In addition, under Article 106 of the Hong Kong Basic Law, Hong Kong has independent public finance, and no tax revenue is handed over to the Central Government in China. The taxation system in Hong Kong is generally considered to be one of the simplest, most transparent and straightforward systems in the world. Taxes are collected through the Inland Revenue Department (IRD).
The Inland Revenue Authority of Singapore (IRAS) is a statutory board under the Ministry of Finance of the Government of Singapore in charge of tax collection.
Partnership taxation in Hong Kong is the taxation of the profits or losses generated by partnership business entities. First, these profits or losses of the partnership are assessed according to the Hong Kong Inland Revenue Ordinance, Chapter 112, section 22. After assessment, then said profits or losses flow through the partnership to the partners who are then taxed on their share of said profits or losses generated by the partnership without any taxes levied against the partnership.
Financial Services and the Treasury Bureau (FSTB) is a part of the 15 policy bureaux for the Hong Kong Special Administrative Region. They are responsible for developing and executing government policy on finance and treasury. The agency was established on 1 July 2002. The current Secretary for Financial Services and the Treasury is Christopher Hui and the under secretary is Joseph Chan.
Hong Kong–Liechtenstein relations refers to international relations between Hong Kong and Liechtenstein.
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