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Advance ruling
In order to avoid tax disputes, tax authorities accomplish the advance ruling mechanism. Any taxpayer may apply to the Commissioner of Inland Revenue who makes the ruling on how should the provisions of "the Inland Revenue Ordinance" be applied to the applicants (or the arrangements described in the application), the application is required to pay costs. The Inland Revenue will only take the prior ruling on the transaction with serious and detailed information, the relevant ruling is binding on its following formal assessment, but it could not apply to other tax cases. Pre-determined content will also be uploaded on the IRD website for public inspection. According to Part 1 of Schedule 10 of "the Inland Revenue Ordinance", the Department will not make a prior ruling in some cases, such as the imposition or remission of penalties 、whether the tax returns or other data submitted by the taxpayers are correct and so on.
We will help clients prepare the necessary files and applications, and provide the rationale of the application, some applicable tax rules and regulations, or the arranged and specified applications to the Inland Revenue Department.
