Tax refund via bank transfer

The Financial Services Bureau has issued a notice saying that income taxpayers can now apply to receive their tax refund via bank transfer to their local bank accounts. The new measure seeks to simplify the procedure. According to the 2015 financial year budget proposal, the government will continue to give back 60 per cent of income taxpayers’ 2013 contribution, to a ceiling of MOP12,000. Taxpayers can hand in their application at their banks to apply for the service until February 25. The seven banks providing the service are BOC, BCM, CCBC, Luso Bank, BNC, OCBC Weng Heng, and Tai Fung Bank.