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Employers Return forms, commonly recognised as BIR56A and IR56B in Hong Kong, are crucial documents that require accuracy and timely submission to the Inland Revenue Department (IRD).
What is the name of the tax authority in Hong Kong?
The name of the tax authority is the Hong Kong Inland Revenue Department (HKIRD).
What is IR56A?
Form BIR56A and Form IR56B The IR56A represents the employers return of remuneration and pensions for the current fiscal year. It includes: Company name and address. Name of person who created the return. Number of completed IR56 forms, as every employee would need one form.
What is IR56B form in Hong Kong?
Income to be reported. (a) Salaries Tax is charged on employment income arising in or derived from Hong Kong which includes income derived from services rendered in Hong Kong and remuneration paid to an employee under certain service company arrangements.
Who needs to file IR56B?
For any former employee who has ceased to earn income chargeable to Hong Kong Salaries Tax (such as by reason of retirement or departure from Hong Kong), you are required to file a form IR56B only when the gains realized during the year of assessment have exceeded the basic personal allowance for that year of
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Income to be reported. (a) Salaries Tax is charged on employment income arising in or derived from Hong Kong which includes income derived from services rendered in Hong Kong and remuneration paid to an employee under certain service company arrangements.
What is the return of remuneration and pensions?
The Employers Return of Remuneration and Pensions, or known simply as the employers return, is an annual form that states what your employees receive in salary and benefits.
What is IR56E in Hong Kong?
Form IR56E is an employer-obligated form that must be completed and submitted within a particular time frame to avoid penalty. The Inland Revenue Ordinance requires that employers complete and submit their Form IR56E for all employees, or face legal litigation or penalties in ance with section 80(1) of the IRO.
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