On May 2, 2025, Benjamin Chang Zhe Wei, a member of the Inland Revenue Committee, shared that the department has issued a total of 2.66 million individual tax forms this year. This breakdown includes about 790,000 electronic forms and roughly 1.87 million paper forms. As part of the 2024/25 assessment period, Chang is urging taxpayers to file their returns punctually, noting that the standard deadline is June 2nd, while sole proprietors have until August 2nd, allowing for an extra month for electronic submissions.
During a press conference, Chang also marked the completion of his own tax filing, announced the introduction of three new ETAX portals this July, and reviewed the tax collection figures for the 2024-25 period.
The Inland Revenue (Adjusted) (Tax Concession) Bill 2025, which passed on April 30, provides a complete waiver of payroll tax, personal assessment tax, and profit tax for the 2024/25 assessment year, benefiting cases exceeding $1,500. Taxpayers are encouraged to file their returns as the benefits will be reflected in their final tax assessments.
Starting with the 2024/25 assessment year, several new tax policies will be implemented. They include a two-tier standard tax rate system for both payroll and personal assessments. Additionally, for those born on or after October 25, 2023, there are new deductions available for mortgage interest and domestic rent, including $100,000 for supplemental reproductive services costs. There are also strengthened deductions related to rental taxes, which involve reviving leased facilities and eliminating time limits on annual allowances for industrial and commercial buildings.
The Inland Revenue Department is promoting electronic filing through ETAX, highlighting its convenience, security, and eco-friendliness. Three new portals—the Individual Tax Portal, Business Tax Portal, and Tax Representative Portal—are set to launch in July, featuring enhanced personal user experiences and mobile applications.
Taxpayers who have submitted online returns will be able to upload supporting documents electronically. The IRD also reminds everyone to use adequate postage when mailing tax returns.
Moreover, the IRD will host “e-seminars” after completion of tax returns and has extended the service hours for their Telephone Inquiry Hotline (187 8022) on weekdays from 8:15 AM to 7 PM, until June 2nd.
In the fiscal year 2024-25, the IRD reported a remarkable tax revenue collection of $374.5 billion, an increase of $32.5 billion compared to last year. This included $17.768.8 billion from profit tax (up 4%), $88.879 billion from payroll tax (up 11%), and $6.388 billion from stamp tax (up 30%).
Issuing tax forms marks the beginning of the annual tax filing season, and this year’s rollout is recognized as particularly strong, especially in the wake of the pandemic.
Taxpayers are encouraged to file their returns online to enhance the process and minimize delays, as the Inland Revenue sector strives to simplify the filing experience.
