The Hong Kong Inland Revenue Department (IRD) has announced that it will waive surcharges for payment of tax by installments for businesses and individuals in need. The announcement provides that taxpayers who encounter financial difficulties in settling their tax bills on time may apply for payment of tax by installments before the due dates of the demand notes. In particular, for taxpayers who have obtained the IRD's approval for installment settlement of the demand notes for Salaries Tax, Profits Tax and Personal Assessment for the year of assessment 2020/21 issued between May 2021 and May 2022, no surcharge will be...