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Property Tax


Property Tax

If you have derived rental income from letting properties situated in Hong Kong, you should fulfill your tax obligations. 


As a property owner, you need to:

  • keep sufficient records of rent received, such as lease agreements and duplicates of rental receipts, receipts for payment of rates, correspondence relating to modification of lease terms and recovery of rent in arrears, for at least 7 years;

  • complete and submit a tax return for reporting rental income;

  • notify liability to tax unless you have already received the tax return from the Inland Revenue Department;

  • notify cessation of ownership within 1 month of such cessation;

  • notify change of address within 1 month of change; and

  • pay your tax.

If you receive a tax return from the Inland Revenue Department, you must complete and submit it in time even if you do not have any rental income from the property.

Rent received from solve-owned properties should be declared in the owner's Tax Return – Individuals (BIR60)

Rents received from a joint-owned or co owned property can be declared by any owner in a Property Tax Return (BIR57)

Property Tax Return BIR58 is used for reporting income from property held by corporations or bodies of persons.

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