Revenue of $106.2 billion was collected during 2003-04, up $13.1 billion compared with last year.

Commissioner of Inland Revenue Alice Lau said today $48.8 billion in profits tax, $28 billion in salaries tax and $3.7 billion in property tax and personal assessment was collected for the year.

The Inland Revenue Department has issued 1.78 million Individual Tax Returns and taxpayers are advised to pay attention to the following three areas:

* the deduction ceiling for charitable donations has been raised from 10% of net assessable income or profits to 25%;

* taxpayers are now required to include the value of holiday journey or passage benefits received from employers as part of their assessable income; and,

* it was proposed in the 2004-05 Budget that home loan interest may be deducted for seven years of assessment instead of five with effect from the year of assessment 2003-04.

Enquiry service hours extended to facilitate taxpayers

To facilitate taxpayers' enquiries, the department will extend the service hours of its enquiry hotlines from today until May 31.

Enquiries can be made at 187 8022 (8.30am to 7pm from Monday to Friday; 9am to 5pm on Saturday) or 187 8222 (5pm to 7pm from Monday to Friday; noon to 5pm on Saturday).

"E-seminars" are also provided on the department's website for individual taxpayers. Enquiries can be raised electronically on the website's "Questions & Answers" column and replies will be made on a regular basis.

To encourage electronic filing, the department will grant a two-week extension of time to taxpayers who file their individual tax returns electronically (that is, the return filing deadline for e-filers will be extended to June 17).