【Hong Kong】Prepare IR56M for Submission

What do we need?

Let's make sure the following are done before we move onto IR56M reporting:

• Tax information of employer is updated (Master Data -> Organization)
• Employees' personal information is updated (Staff -> Applicant)
• Please make sure that "Require Tax Filing?" is Disable(Associate -> Placement -> Salary part)

  

  • If the recipient is a company, please take a look at the following page and update the related information Prepare IR56M when recipient is a company
• Payrolls from last April to March are done and posted (Payroll --> Payroll Batch)
• Pay types are correctly configured on whether it is taxable with proper tax category (Master Data -> Job Order Template)
  • Please make sure you have select the IR56M Income Type in Job Order Template

    

➡️ Details setting can take a look at Get Ready for using Taxation

Steps to preparing IR56M for submission

1. Preparing IR56M Batch

• Go to Taxation --> IR56M
• Click "Add New"
  • Specify the company and tax period
  • Confirm. You now have a blank IR56M batch
• Click "Add Placement"
  • Pick who you are reporting tax. Just like payroll.
  • Confirm. The staff are being added to the IR56M batch.

2. Reviewing IR56M

• Check and make changes to individual tax forms one by one, or
• Generate the reports to check the amount
  • Go to Analytic->Taxation-> 
    • Tax Details Report,
    • Tax Summary Report, or
  • Go to Analytic->Payroll->Payroll Details by Placement
    • remember to choose the date of the tax period
      ➡️ Take a look at How to handle the "-ve" in tax form? if you find there "-ve" after generating the tax form.

3. Submitting IR56M

• Go to More -> Generate IR56M for eTax
  • Download and burn the XML file to CD/USB disc.
• More -> Generate Control List
  • Print and Sign the control list

    

• Together with the reply slip, submit your media and the checklist to IRD

4. Delivering IR56M to your staffs

• Click into the form->More -> Print IR56M/ Email IR56M to (staff individual email)