702, CMB Wing Lung Bank Centre, 636 Nathan Road, Mongkok, Kowloon. (Mongkok MTR Exit E2)
​Tel: 2388 1161                 Fax: 2388 3689               Whatsapp: 5430 0789           Email:info@shumlaw.hk

Shum Law Corporate Services Limited

岑 羅 專 業 服 務 有 限 公 司

Related Services

Property Tax


Scope of Charge

Property tax is charged on the property owner who has derived rental income from leasing of properties situated in Hong Kong and is computed at the standard rate of 15% on the net assessable value of the property.

Assessment Period

From 1 April of each year to 31 March of the next year

The Basis of Assessment

The net assessable value shall be the current year's rental income (after deduction of rates paid by the owner), less an allowance of 20% for repairs and outgoing expenses. Any other expense than the foregoing cannot be deducted, except for irrecoverable rents, which can be deducted. Subsequently recovered rents shall be recognized as income in the year they are recovered.


A limited company, which owns properties to collect rent is exempt from property tax and subject to profits tax only.




Taxation Services for Individual:


  • Filing Individual Tax Returns
  • Electing Personal Assessment
  • Applying for Tax Allowances
  • Filing Property Tax Return
  • Applying for Extension for filing tax returns
  • Lodging objection against improper Tax Estimation / Tax Assessment
  • Applying for Hold-over of Provisional Tax, Tax Payment by Instalment or Tax Refund 
  • Handling Inland Revenue Department’ enquiries, tax field audit or investigation 
  • Handling tax litigation
  • Providing tax planning and tax advices