What is IR56?
IR56 refers to the employer’s tax return, including IR56B, IR56F, IR56E, IR56G, and IR56M.
IR56 forms templete
Inland Revenue Department IR56B form template
Inland Revenue Department IR56F form template
Inland Revenue Department IR56E form template
Inland Revenue Department IR56G form template
Inland Revenue Department IR56M form template
The importance of IR56
Generally speaking, Hong Kong employers are obliged to report all remuneration paid to their employees during the financial year. This report must be prepared using a form recognized by the Hong Kong government, commonly known as the Employer’s Return (Form IR56).
IR56, the employer’s tax return, is a reporting requirement for employers. Employers who fail to comply with the Inland Revenue Ordinance will be penalized under Section 80(1) of the Inland Revenue Ordinance.
Notes on IR56
In the IR56 form, different tax forms are suitable for different scenarios and have different requirements, and the items to be declared are complicated (employee personal information, salary details, etc.), and mistakes will occur if you are not careful.
Notes for different IR56 forms:
Workstem – a one-stop cloud & human resources management platform includes a complete tax function. It not only helps you record employees’ entry dates, payroll information, payroll history records, MPF contribution records, etc., but also customizes each income. Add items/subtract items, and put them under different taxation rules. When the tax filing season comes, Workstem will help you generate and export IR56B of all employees with one click, and you can also choose XML or PDF format to make it easy for you to complete tax returns. Amazing!