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01 Intro to HK taxation system-2014 - s

Six units commissioners cir unit commissioners appeal

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Unformatted text preview: eal, audit, sp. duties, form & general support……etc. audit, Unit 1 – Processing • Profits tax (corporations and partnership) Unit 2 – Processing • Profits tax (sole proprietorships) • Salaries tax • Property tax • Personal assessment 23 The Inland Revenue Department Unit 3 – Collection • Business Registration • Stamp Duty • Estate Duty • Betting Duty • Hotel Accommodation Tax • Entertainment Tax Unit 4 – Investigations HQ unit ( ) – IS, training, & other HQ admin. admin. 24 Rights / Powers of IRD Assessors can require return in specified Assessors form to be filed within the prescribed time (s.51(1), s51(2A)). Separate returns for each tax (s.51(1) Separate (a)), or Composite tax return to (a)), individual for property tax, salaries tax and profits tax (s.51(1)(b)). and 25 If not satisfied with the return, Assessors If can require fuller & further information (s.51(3)) (s.51(3)) Assessors can require information from any Assessors person which may affect any liability of any persons, and Assistant commissioners can summon any person to attend interview at prescribed time and place (s.51(4a)) at 26 Assessors can require information Assessors relating to particular land or property particular transactions (s51(4A)) - no professional privilege ( ) With the consent of BoR, CIR can With obtain a statement of assets and liabilities, and of expenditure and receipt from suspected taxpayer 27 (s51A) (s51A) CIR can apply for a search warrant ( CIR ) to enter premises and seize books/ records from suspected taxpayer (s51B) taxpayer Taxpayer is required to keep books Taxpayer and records for not less than 7 years (s51C) (s51C) CIR can Request information from CIR other Government departments or 28 public bodies or employers (s52) public The Board of Inland Revenue The Composition : {s 3(1)} The Financial Secretary 4 other members appointed by the Chief other Executive, of which only one can be a Government official. Commissioner of Inland Revenue is the ex officio. ( ) 29 1 secretary – Deputy Commis...
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