Tax Assessments Can Be Wrong? Check These 12 Items Carefully Before You Pay!
Every year, when people receive their tax assessment, many of them immediately think about paying it as soon as possible so they will not delay the matter.
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Deferred Annuity Tax Deduction Guide | Tax deduction up to $60,000? Check if you meet the requirements first!
In recent years, more people in Hong Kong have started considering deferred annuities as tax deductions. During the tax season, a common question is: “How much tax deduction can I get from an annuity?”
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🚨 Attention BNO “Astronauts”! Don’t Fall into the Tax Trap! 🚨
Starting April 6, 2025, the UK will implement a new tax system that affects overseas residents. For the first four years, new arrivals in the UK won’t have to pay tax on overseas income. However, from the fifth year onwards, they will be taxed like regular UK residents on their global income. This change is particularly important for BNO visa holders and families participating in the “Astronaut Project”
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🏠 Thinking of Selling Your Property? Don’t Let Unexpected Taxes Catch You Off Guard! 💰
Did you know that selling real estate can lead to hefty tax implications? According to the Inland Revenue Ordinance, persons, including corporations, partnerships, trustees and bodies of persons carrying on any trade, profession or business in Hong Kong are chargeable to tax on all profits (excluding profits arising from the sale of capital assets) arising in or derived from Hong Kong from such trade, profession or business.
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Tax Traps – Don’t Misclaim Business Entertainment Expenses! Small Oversights Can Lead to Big Problems!
Claiming “entertainment expenses” often leads to disputes, as these costs must directly contribute to business operation. Business owners frequently receive inquiries from Inland Revenue Department (IRD), and in their attempts to provide evidence, they can accidentally complicate matters by overlooking key details.
