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Hong Kong Taxation System (Major Taxes in Hong Kong) Hong Kong Profits Tax (Corporate Income Tax) All corporations, partnerships, trustees and bodies of persons carrying on any t...
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Hong Kong Tax - Guideline Note on the Territorial Source Principle of Taxation Overview Hong Kong adopts a territorial source principle of taxation. Only profits which have a sou...
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Hong Kong Profits Tax – Basis Period for Assessment Basis period is either: the year ended 31 March during the relevant year; the year ended on that day in the relevant year if...
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Hong Kong Profits Tax Guide – Assessable Profits What are assessable profits? The assessable profits are the net profits (other than profits arising from the sale of capital asse...
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Hong Kong Profits Tax – Deemed Trading Receipts Section 14 of the Inland Revenue Ordinance sets out the scope of the charge to profits tax. In addition, Section 15 deems the foll...
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Hong Kong Profits Tax – Capital versus Revenue Section 14 of the Inland Revenue Ordinance states that profits arising from the sale of capital assets are outside the scope of cha...
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Hong Kong Profits Tax – Exempt Receipts/Profits The following are exempt from the assessable profits: 1. Dividends received from a corporation; 2. Profits already assessed to...
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Hong Kong Profits Tax - Partnership According to Section 14 of the Inland Revenue Ordinance, profits tax shall be charged for every person carrying on a trade, profession or busin...
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Hong Kong Profits Tax – Definition of a Body of Persons According to Section 14 of the Hong Kong Inland Revenue Ordinance, profits tax shall be charged for every person carrying ...
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Hong Kong Profits Tax - Corporation Section 14 of the Inland Revenue Ordinance levies profits tax on every person carrying on a trade, profession or business in Hong Kong in respe...
