Frequently Asked Questions
Is a Business License required to operate a car rental company or a villa?
Yes, all business operators, except for those exempt under the Business Licensing Ordinance, are required to have a valid business license.
Am I required to register and collect taxes for bicycle rental?
Yes, this business activity is a prescribed service under the Hotel and Tourism Tax.
When is my Insurance Premium Sales Tax due?
The payment must be submitted by the 15th of each month. A penalty of 10% per month is applied on all late payments.
Can I make payment via cheque?
Yes, you can, if your name is on the government’s cheque list.
What happens if the payment due date falls on a weekend or holiday?
If the due date falls on a weekend or holiday, then payment should be made on the last working before the weekend or holiday.
Where would I find the remittance form to submit my payment?
The remittance form is available at the Revenue Department on a monthly basis.
When is my DFSST payment due?
Payment is due on the 15th of each month. A penalty of 10% per month is applied on all late payments.
How long am I required to keep my records?
You are required to keep all records for 5 years.
Do I have to complete a remittance form even if I have nothing to submit?
Yes, you are required to complete the form showing a nil return.