Article 14 Reports by paying and receiving agents to the Inland Revenue Department
A paying agent or receiving agent who is required to report information to the Inland Revenue Department in accordance with this Order must make and deliver the report to the Department within 14 days of the end of the tax year in which—
in the case of a paying agent, the savings income payment was made, or
in the case of a receiving agent, the savings income was secured or received
unless he has received a notice from the Department under paragraph (4) to provide a return in respect of that year.
The agent must make a separate report in respect of each relevant payee.
The report must include all the information prescribed by this Order in respect of—
in the case of a paying agent, all savings income payments made, and
in the case of a receiving agent, all savings income secured or received,
during that tax year and specify the tax year to which the report relates.
The Inland Revenue Department shall send a notice under paragraph (5) to—
any person who has made a report specified in paragraph (1);
any agent whom the Department considers should have made such a report in respect of the immediately preceding tax year; and
any agent who has made such a report in respect of the immediately preceding tax year, unless—
the agent has notified the Department that he is no longer an agent; or
the Department has reason to believe that he is no longer an agent.
A notice under this paragraph shall specify—
the information which must be reported;
the tax year in respect of which the report must be made; and
when, where and how the information to be reported is to be delivered.
The time at which information is required to be delivered shall be not earlier than 30 days after the delivery of the notice.
In the application of this article to the tax year beginning on 1st January 2005, any savings income paid or received before 1st July 2005 shall be disregarded.