Hong Kong Business News

The Government today announced that property owners and residents of Wang Fuk Court will be waived from the final tax payable for the 2025-26 assessment year, a move aimed at easing the financial burden on those affected by the recent fire.

This measure, combined with the tax waiver announced by the Government last December, means eligible persons will be waived from both the balance of tax payable for the 2024-25 assessment year and the tax payable for the 2025-26 assessment year.

The Inland Revenue Department will issue tax returns to the affected individuals in the third quarter of this year to assess their provisional tax for the 2026-27 assessment year.