Types of Tax Returns

Michael Chan - Bida & Co.

Feb 23, 2023

The types of tax returns in Hong Kong are:

- Tax Return – Individuals (BIR60)

- Property Tax Return (BIR57 or BIR58)

- Profits Tax Return (BIR51, BIR52 or BIR54)

Tax Return – Individuals (BIR60)

It is directed at individuals and for reporting all employment income, including pension, profits from sole proprietorship business, rental income from solely owned properties and claiming deductions and allowances.

If a taxpayer has been assessed previously as not liable to tax, he/she might not receive BIR60 annually. However, it is required to notify the Inland Revenue Department (IRD) in writing no later than 4 months after the end of the basis period for the year of assessment concerned when the taxpayer has become chargeable to tax. IRD will then send an advice letter to review the tax liabilities.

Property Tax Return (BIR57 or BIR58)

These types of returns are issued to joint owners, co-owners, bodies of persons or corporations. If the property is solely owned, Tax Return – Individuals (BIR60) should be used instead.

There are two series of Property Tax Return forms:

- Property Tax Return – Property Jointly Owned or Co-owned by Individuals (BIR57)

- Property Tax Return – Corporations and Bodies of Persons (BIR58)

Profits Tax Return (BIR51, BIR52 or BIR54)

It is issued to a corporation, partnership business of if a non-resident person is chargeable to profits tax in the name of a taxpayer, the profits should be reported in Profits Tax Return. If it is a sole proprietorship business, the profits should be reported in Tax Return – Individuals (BIR60).

There are three series of profits tax return forms:

- Profits Tax Return – Corporations (BIR51)

- Profits Tax Return – Persons Other Than Corporations (BIR52)

- Profits Tax Return – In Respect Of Non-Resident Persons (BIR54)

IRD Normal Issue Dates