Mpf tax deduction. May 21, 2025 · Understanding the Core Tax Structure of MPF The Mandatory Provident Fund (MPF) scheme forms the bedrock of Hong Kong’s retirement savings system, operating on a fundamental tax structure that offers distinct advantages for both employers and employees. We are the Military Personnel Flight at McConnell AFB. What is an MPF tax deduction? MPF tax deduction refers to the amount of mandatory or voluntary contributions that you can legally deduct as expenses for Hong Kong taxation purposes. Grasping the fundamental principles of MPF contributions is essential, particularly concerning their impact on your annual The amendment ordinance provides tax deductions for qualifying annuity premiums and tax deductible MPF voluntary contributions (TVC) under salaries tax and personal assessment. Employees can make voluntary contributions to their contribution accounts through their employers. In the case of employees, both the employer and the employee have to make monthly contributions. 此文章由香港政府提供，介紹從應課税入息中可扣除的強制性公積金計劃及認可職業退休計劃部分供款。 To ensure that correct deductions are made for tax purposes, taxpayers should keep proper records in respect of their contributions to MPFS and MPF-exempted RORS. Dezember 1957 unter dem Namen Ramstein-Landstuhl Air Base zusammengelegt und der Name später zu Ramstein Air Base vereinfacht. To successfully claim a tax deduction for Tax Deductible Voluntary Contributions (TVC) in a specific tax year, the contribution payment must be received by your MPF provider on or before March 31st of that year. These payments, required by law, are acknowledged by the IRD as necessary allocations of income and are therefore eligible for deduction. We always encourage employees to make MPF voluntary contributions in addition to the mandatory contributions to enhance their retirement protection. These tax benefits make MPF a valuable long-term savings tool for retirement planning. , Bldg. mil Walk-ins: Monday through Friday 8 AM-12 PM (On SBD1 Training Days, Walk-ins end at 10 AM. 350, Suite 1074, Peterson SFB, Colorado 80914. To facilitate your filing of tax return, MPF trustee will provide a TVC contribution summary to you each year. Tax savings The following table provides an example of the potential annual tax savings for individuals with di erent incomes and tax brackets. Our mission is to provide quality personnel support. Operating on a defined contribution basis, it mandates contributions from both employers and employees into approved schemes. Learn about the SSS Mandatory Provident Fund. Only contributions made to TVC accounts not exceeding the tax deduction cap are tax deductible. Visit our site to learn more. Grasping the fundamental principles of MPF contributions is essential, particularly concerning their impact on your annual Enjoy tax savings while making voluntary contributions towards your retirement today. Tax Deductible Voluntary Contributions (TVC) is a category of voluntary contributions under MPF scheme, you may be able to save up to HK$10,200 in tax each year! Take advantage of this tax incentive to save more for your retirement today. 報稅季節來臨，很多香港市民關心如何在報稅時正確申報強積金（MPF）供款以享受扣稅優惠。本文將詳細解構報稅時與MPF相關的注意事項、扣稅規定及申報流程，助你在2025年報稅季輕鬆省稅，避免誤填帶來的風險。 If you have more than one TVC account, the maximum tax deduction amount applies to the total amount of contributions of all of your TVC accounts. Other types of MPF voluntary contributions are not tax deductible. Principal among these is the Mandatory Provident Fund (MPF). Die Amerikaner sind bereits seit mehr als 70 Jahren hier stationiert. Leveraging these strategies can significantly increase your deductible amount each tax year, thereby reducing your overall tax liability and boosting your retirement savings This tax deduction serves as a valuable incentive from the Hong Kong government, designed to encourage long-term savings through the MPF system by directly impacting your assessable income and potential tax payable each year. At its core are the mandatory contributions, legally required for most employees and their employers, subject to specific income thresholds Concerning MPF and Provident Funds Introduction to Mandatory Provident Fund (MPF) Schemes With effect from 1 December 2000, employees and self-employed persons, except the exempt persons under the Mandatory Provident Fund Schemes Ordinance are required to participate in an MPF Scheme. Peterson Space Force Base is located in Colorado Springs, Colorado, at an altitude of 6,035 feet and shares runways with the Colorado Springs Airport. Tax deductions for qualifying annuity premiums and tax deductible MPF voluntary contributions Show All Feature article by the Hong Kong Government about tax deductions for contributions to mandatory provident fund schemes and recognised occupational retirement schemes. Sep 11, 2025 · 強積金自願性供款新稅務扣除政策為香港市民提供了節稅機會。最高可達60,000港元的自願性供款扣除額，能有效減少當年稅負，幫助您優化退休金規劃。本文將分析如何利用這一政策規劃退休金，最大化稅務減免，並為2025年的稅務規劃提供建議，讓您在退休生活中更加無憂。 The introduction of the tax deductions for annuity premiums and voluntary MPF contributions, in addition to voluntary health insurance premiums, will be welcomed by all Hong Kong citizens who can claim a deduction under salaries tax or personal assessment. The MPF intends to help Hong Kong’s workforce save up for their retirement. Tax deductions do not equate to a direct deduction from total tax payable. Contributions are subject to the governing rules of their MPF schemes. May 6, 2025 · Now that you have a basic understanding of MPF, let’s deep dive into your must do’s (also known as your legal obligations), and things you get as an employer in Hong Kong (your entitlements), including: opening an MPF account, making MPF contributions and MPF tax deduction. Learn how to claim tax deduction for contributions to MPF or ROR schemes as an employee or a self-employed person in Hong Kong. Understanding MPF’s Role in Tax Reduction The Mandatory Provident Fund (MPF) System is a cornerstone of Hong Kong’s retirement savings framework, legally established to help the working population build financial security for their future. Discover its benefits, contribution rates, and how it ensures financial security for retirement. 1 day ago · Tax-Deductible Voluntary Contributions (TVC) are an additional contribution option introduced in 2019 under the Mandatory Provident Fund (MPF) system. Umstritten ist vor allem die Steuerung von US-Kampfdrohneneinsätzen von Ramstein aus. Military families can explore and save by visiting ITT. Apr 21, 2023 · This tax deduction serves as a valuable incentive from the Hong Kong government, designed to encourage long-term savings through the MPF system by directly impacting your assessable income and potential tax payable each year. See examples, maximum amounts, and conditions for different situations. Crucially, it is imperative to coordinate your contributions with Hong Kong’s tax assessment period. To be eligible to participate in the MPF Program, an FHLB member must be a PFI of an FHLB that offers the MPF Program and have experience in originating and servicing mortgage loans. Under Section 26G of the Inland Revenue Ordinance, mandatory contributions to MPFS are deductible in computing the assessable income/profits of an employee or a self-employed person, but the deduction does not include contributions made by a self-employed person in respect of his/her employees. Ramstein Air Base is located in the German state of Rhineland-Palatinate (aka Rheinland-Pfalz) and is part of the Kaiserslautern Military Community -- the largest American community outside of the United States. As tax deduction amounts can vary according to different individuals' situations, for all MPF Tax Deductible Voluntary Contributions and Qualifying Annuity Premiums deductions, please refer to the Inland Revenue Department. Navigating MPF Contribution Caps and Tax Deductibility Understanding the specific limits related to Mandatory Provident Fund (MPF) contributions is vital for accurate tax Understanding MPF Tax Deduction Fundamentals The Mandatory Provident Fund (MPF) is Hong Kong’s compulsory retirement savings scheme, designed to help the workforce build a financial cushion for retirement. Jul 9, 2024 · Der US-Luftwaffenstützpunkt in Deutschland hat enorme Bedeutung für die Operationen der USA und der NATO. 2. It allows individuals to make voluntary contributions to a designated MPF account and claim tax deductions for the amount contributed up to a maximum of HK$60,000 per year. Aug 8, 2023 · On the contrary, the MPF mandatory contribution tax deduction of up to HK$18,000 must be reported by the employee, otherwise, this deduction right will be deemed waived. Account holders can enjoy tax deductions under salaries tax or tax under personal assessment. We handle everything from ID cards to base in-processing, assignments, re-enlistments, and retirements for all Airmen and their families. Indulge in unlimited delights at the HUB’s all-you-can-eat buffets! Click here to explore our enticing weekly menus. MPF tax-deductible voluntary contributions (TVC), which are a type of voluntary contribution, encourage employees to make additional contributions to their MPF accounts while enjoying tax incentives. . The C-130 airframe has supported several international exercises and operations to deliver humanitarian aid, troop deployments and emergency support. Enjoy exclusive discounts on events and activities around Colorado Springs. 719-556-0008, Option #1. 3, 2025. Mar 21, 2023 · The mandatory provident fund (MPF) in Hong Kong is a compulsory saving scheme or pension fund covering employees and self-employed individuals aged 18 to 64. Die Ramstein Air Base (ICAO-Code: ETAR, auch bekannt als RMS) ist der zentrale Stützpunkt der US Air Force in Europa und liegt in der Nähe von Kaiserslautern in Rheinland-Pfalz, Deutschland. The eMPF Website is a secure transaction portal available to authorized users of member institutions participating in the MPF Program. Contributions are made regularly by both employers and employees. While its primary Jun 6, 2025 · What is Tax Deductible Voluntary Contribution ("TVC")? Tax Deductible Voluntary Contribution ("TVC") is a type of MPF contributions which is tax-deductible under salaries tax and personal assessment in the existing MPF system. If an employee is entitled to tax deduction for both qualifying annuity premiums and MPF voluntary contributions for a year of assessment, deductions will firstly be allowed for MPF voluntary contributions and then for qualifying annuity premiums. In each tax assessment year, you can make TVC as voluntary MPF tax deduction item. The maximum deductible amount should not exceed the amount prescribed in the Inland Revenue Ordinance. ⁶ Voluntary contributions may or may not be tax deductible, depending on the specifics of the payment and MPF scheme. Hong Kong Social Security and Payroll Deduction Rates in 2025 In Hong Kong, social security and payroll deductions primarily involve contributions to the Mandatory Provident Fund (MPF) system, which is a key component of the territory's retirement protection scheme. Employers can deduct up to 15% of an employee’s annual salary from taxable income. A C-130J Super Hercules aircraft, assigned to the 86th Airlift Wing, prepares to take off at Ramstein Air Base, Germany, Sept. Generally, employees can withdraw or transfer their MPF only upon cessation of employment. An executive director receiving a salary under a contract of employment is required to join a MPF scheme and is entitled to claim tax deduction for his mandatory contributions. Is there any limit on deductions for MPF contributions made by employers for their employees? Regular/monthly contributions (whether mandatory or voluntary) made to a MPF scheme by persons as employers for their employees are allowable for deduction. Jul 28, 2025 · On Oct 1, 2025, the Merchandise Processing Fee minimum and maximum will increase on formal entries. The MPF Program Guide contains the requirements Participating Financial Institutions must follow in order to participate in the MPF Program. The MPF is located at 135 Dover St. Jul 2, 2025 · The maximum total tax deduction allowed for (i) and (ii) above is HKD 60,000 for each tax year. May 2, 2022 · Die Air Base Ramstein bei Kaiserslautern gilt als der wichtigste Militärstützpunkt der USA in Europa. TVC is the only type of voluntary contributions that is entitled to tax deduction. Missing this statutory deadline means the deduction cannot be applied for the Mandatory Provident Fund in Hong Kong: Understand its purpose, who it applies to, types of schemes, enrollment, contributions, and employer obligations. Feature article by the Hong Kong Government about tax deductions for contributions to mandatory provident fund schemes and recognised occupational retirement schemes. vmpf. Voluntary contributions made by employees are not tax-deductible, except for tax-deductible voluntary contributions. af. Jun 30, 2025 · MPF Tax Deduction: Is MPF taxable in Hong Kong? An employee can claim a tax deduction for contributions they make to an MPF scheme, subject to a maximum cap of 18,000 HKD. Seit 1971 ist hier das Military Airlift Command (MAC) (heute Air Mobility Command (AMC)) mit seinen Transportflugzeugen stationiert. us. Starting from 1 April 2019, retirement savings of taxpayers via qualifying deferred annuity premiums of a qualifying deferred annuity policy (QDAP) and TVC under MPF schemes can enjoy tax deductions of up to a maximum of HK$60,000 per year. Base Visits on Ramstein Air Base With the exception of Amiercan and German holidays, base tours, which are free of charge, are conducted Monday through Friday during regular duty hours. The amendment ordinance provides tax deductions for qualifying annuity premiums and tax deductible MPF voluntary contributions (TVC) under salaries tax and personal assessment. Aug 29, 2025 · Aktuelles zur Air Base in Ramstein: Informieren Sie sich über aktuelle Ereignisse zur Ramstein Air Base. Dec 17, 2024 · A significant avenue for tax reduction in Hong Kong is through mandatory contributions to recognized schemes. Open your Principal MPF TVC account and make contributions and enjoy your tax-deductible amount of up to HK$60,000. Employee can claim a tax deduction under Salaries Tax for the mandatory contributions that he makes to an MPF scheme. Navigating MPF Contribution Caps and Tax Deductibility Understanding the specific limits related to Mandatory Provident Fund (MPF) contributions is vital for accurate tax Tax Deductible Voluntary Contributions (TVC) is a new type of contributions under MPF system. The Federal Home Loan Banks' Mortgage Partnership Finance (MPF) Program is designed to help you gain access to the secondary market. Normally the Feb 23, 2022 · Strategies to Maximize MPF-Related Savings While participation in Hong Kong’s Mandatory Provident Fund (MPF) system is compulsory, individuals can take proactive steps to enhance the tax-saving benefits it offers. An employee can claim tax deduction for the employee’s mandatory contributions made to an MPF scheme, subject to the maximum amount as follows: $18,000 for the year of assessment 2015-16 and each subsequent year of assessment. Learn more about tax-deductible voluntary contributions (TVC) accounts. The Inland Revenue and MPF Schemes Legislation (Tax Deductions for Annuity Premiums and MPF Voluntary Contributions) (Amendment) Ordinance 2019 (the Amendment Ordinance), enacted on 29 March 2019, provides concessionary deductions for qualifying annuity premiums and tax deductible MPF voluntary contributions (TVC) respectively. Aug 27, 2025 · Discover Hong Kong MPF contribution rules & regulations, including employer obligations, taxation, exemptions, penalties, & early withdrawal. Jan 23, 2022 · Understanding MPF Tax Deduction Fundamentals The Mandatory Provident Fund (MPF) is Hong Kong’s compulsory retirement savings scheme, designed to help the workforce build a financial cushion for retirement. Beide Teile wurden schließlich zum 1. Explore upcoming events and activities at Peterson Space Force Base with our interactive calendar. Apr 17, 2025 · 強積金為「扣稅三寶」之一，當中除了強制性供款，還有可扣稅自願性供款（TVC）。立即了解最新強積金的扣稅上限、自願性 Apr 24, 2025 · MPF Tax Benefits MPF contributions offer tax-saving opportunities for both employees and employers: Employees can claim a tax deduction of up to HK$18,000 per year. Employer's tax obligation under MPF schemes and Recognized Occupational Retirement Schemes (ORSO Schemes) Deductibility of contributions for employees and self-employed persons - MPF scheme or Recognized Occupational Retirement Scheme (ORSO Schemes) 強積金MPF扣稅攻略！除使用「扣稅三寶」及供養父母免稅外，打工仔每年於稅季亦可使用強金積扣稅，每年上限達HK$18,000；如使用自願性供款(TVC)更可享高達HK$6萬免稅額。MoneyHero為大家整合強積金扣稅攻略，解構MPF計算方法、申請方法及注意事項！ Feature article by the Hong Kong Government about tax deductions for contributions to mandatory provident fund schemes and recognised occupational retirement schemes. Assuming the taxpayer is only entitled to basic allowance, married person’s allowance, child allowance and tax deductions from MPF mandatory contributions, the tax savings per year are (Note 2) : Mar 20, 2019 · Scheme members can open a TVC account under an MPF scheme of their own choice and make TVC directly to the account without going through the employers. ) The MPF is closed on all federal holidays, Pass Days, and SDB1 Training Days. pudh wcv afsitn rntmrv fhqod ntwjd aysue ksdv yarxg dyk