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Adjudication & Rulings - a guide to binding rulings 判决和条例 - 关于约束条例的指南

About this Guide

This booklet is to help customers who want to know about binding rulings on taxation laws. The booklet explains what binding rulings are, the different types of binding rulings available, and what you need to do if you want to apply for a binding ruling.

Adobe Acrobat PDF | 377kb | 26 pages

When to use this guide

From the outset you should note that the binding rulings process is quite formal and rigid. It's not designed to provide answers to all - or even most - taxpayers' inquiries on their tax affairs.

Because obtaining a binding ruling can be a relatively lengthy and expensive process, you may need to consider whether it's necessary or cost-effective to obtain one in your particular circumstances.

We suggest you ask yourself the following questions:

  • Is the answer to the issue clearly stated in other information sources available?
  • Is the taxation issue complex in nature?
  • Does the issue involve a considerable amount of tax?
  • Is it necessary to have the formal legal certainty of a binding ruling?
  • Is there a current public ruling that covers the arrangement I would like a binding ruling on?
  • Am I able to - or do I want to - meet the costs of obtaining a binding ruling? The average fee charged by IRD (at the time of printing) for a private or product ruling is $4,000. There would generally also be professional advisers' fees.
  • Do I have enough time to wait for my application for a binding ruling to be considered? (There can be significant time delays in obtaining a ruling. It will take no less than four weeks and possibly much longer, after an application is allocated to an analyst, to research, analyse, and issue a ruling.)

What you will need

If you do decide to apply for a binding ruling, we generally recommend that you seek help from an accountant, lawyer, or other tax professional.

 

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