Hong kong property tax

Property tax is a kind of property tax levied by the government on real estate, which is usually levied on users such as property owners or lessees. The government agency responsible for collecting property tax can evaluate the property and take a certain proportion of the property value as the property tax payable. The ways and tax rates of levying property tax vary from country to country.

In Hong Kong, there is another tax called property tax. Tax). According to the provisions of Article 5B of the Inland Revenue Ordinance of Hong Kong (Chapter 1 12), it is a direct tax. If the owner only holds the property in Hong Kong, he will not be taxed, unless the consideration income generated by renting the property is 80% of the net consideration income in the tax year (i.e. "assessable net value"). In addition, there are three types of property taxes in Hong Kong: rates, government rent and government rent.

Hong Kong Inland Revenue Ordinance, Chapter 1 12, Article 5B, Property Tax Collection.

(1) This clause applies to any year of assessment beginning on or after April 1983.

(2) The assessable value of land or buildings or land and buildings in each year of assessment shall be the consideration paid for the right to use the land or buildings or land and buildings, and the consideration refers to the money or money equivalent paid to the owner or at the order of the owner or for the benefit of the owner in the relevant year.

(3) For the purposes of this article, if any consideration has to be paid before the year of assessment starting in April of 1983 for the right to use during the period starting after April of 1 year or continuing to that date, the consideration shall be regarded as during the existence of the right to use or as of March of 1986.

(4) For the purposes of this section, if any consideration is paid for the right to use for a period that is not included in any year of assessment, the consideration shall be deemed to be paid in equal monthly installments during the existence of the right to use or during the existence of the right to use related to the consideration, whichever is the shorter.

(5) (repealed by article 4 of 1993 56)

(6) In this paper, consider? (considering)? Including any price to be paid when providing services or benefits related to the right to use.

Calculation method of property tax in Hong Kong (refer to:

Inland Revenue Department of the Hong Kong Special Administrative Region Government)

Property tax is calculated at the standard tax rate and based on the net assessable value of the property in the year of assessment. The tax year refers to April 1 day of each year to March 3 1 day of the following year.

The net assessable value is calculated as follows:

[A] rental income

B. minus: irrecoverable rent.

[C](A-B)

(d) Less: rates paid by the landlord.

(C-D)

[F] Less: standard allowance for repairs and expenses? (E？ x？ 20%)

Assessable net worth? (English, French)