Tax time in Hong Kong can be daunting—particularly if you’re not familiar with the forms and procedures. One form that every employee will have to familiarize themselves with is the BIR60, the Inland Revenue Department’s (IRD) Individual Tax Return. With this BIR60 guide, we will walk you through all you need to know in order to file and submit your individual tax return in a proper and timely manner.
Regardless of whether you are a local employee or expat employee working in Hong Kong, this blog is your one-stop-shop for stress-free tax filing.
And if you’d rather save yourself the headache? Have FastLane HR do it for you.
What is the BIR60 form?
BIR60 is an annual tax return form released by the Hong Kong Inland Revenue Department (IRD) to those who have income that was earned in Hong Kong. You will probably get this form in May or June of every year if you are employed, self-employed, or receiving rental income.
Major facts regarding BIR60:
- It includes income for the last financial year (1 April to 31 March).
- You must file even if your income is less than the taxable amount.
- You typically have 1 month from the date of issue to complete and submit it.
Who is required to File a BIR60?
You must file a BIR60 if:
- You’re an employed person receiving income in Hong Kong.
- You are self-employed or a sole proprietor.
- You earn rental income on domestic property.
- You are a resident or non-resident and have taxable income.
Even when you’re working in Hong Kong on a temporary basis only, the IRD still anticipates a decent tax return.
Tip: If your ultimate hope is Permanent Resident status, it’s worth keeping your tax records neat and consistent.
How to Fill in the BIR60 Form (Step-by-Step)
Your BIR60 filing doesn’t have to be complicated. Following is the simplified version:
- Personal Details
- Check your name, address, and HKID/passport number.
- Ensure that your marital status and dependents information is accurate.
- Income from Employment
- Report all wages, bonuses, and allowances received.
- Provide employer information and length of employment.
- Other Income
- Self-employment profit, freelance earnings, or rental income.
- Deductions
- Contributions to MPF or ORSO schemes
- Approved charitable donations
- Home loan interest
- Elderly residential care expenses
- Allowances
- Claim allowances like:
- Basic allowance
- Married person’s allowance
- Dependent child or parent allowance
- Choosing Joint Assessment or Individual Assessment (where appropriate)
- Consider tax efficiency based on your spouse’s income or other earnings.
After completing the form, you may send it over the internet using eTAX or by post.
What occurs when you submit the BIR60?
On receipt, the IRD shall:
- Review your information.
- Issue a Notice of Assessment indicating your tax payable.
- Establish payment due dates (usually January and April of the upcoming year).
You can object within a month if you don’t agree with the assessment.
Why You Shouldn't File Your BIR60 Alone
Though guidelines are provided by the IRD, filing errors are frequent and may lead to:
- Tax computation errors
- Missed deductions or allowances
- Late penalties or audits
- Delay in filing Permanent Residency applications
If you’re unfamiliar with the Hong Kong taxation system or simply do not have time to dig through all the information, professional assistance can be a lifesaver.
How FastLane HR Assists in BIR60 Filing
At FastLane HR, we provide personal tax return preparation services for working individuals, expatriates, and small business owners in Hong Kong. Here is what we can provide:
- Proper BIR60 preparation and submission
- Tax deduction and allowance advice to minimize your tax liability
- timely reminders so you never miss a deadline
- eTAX support for secure digital filing
- Permanent Residency applicant tax return assistance
We make taxes simple, so you can concentrate on your company, not your paperwork.
Conclusion: Let FastLane HR Do It for You
Your BIR60 filing should not be a cause of stress. FastLane HR will make it simple, compliant, and hassle-free for you, whether you are a first-time filer or veteran staff. Require assistance with your personal tax return? Contact FastLane HR today for a complimentary consultation—we’ll have your BIR60 filed correctly and on time.