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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 – 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...
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Hong Kong Profits Tax – Requirements for Keeping Business Records Section 51C of the Inland Revenue Ordinance requires every person carrying on a trade, profession or business in...
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Hong Kong Profits Tax - Non-Hong Kong residents Section 14 of the Hong Kong Inland Revenue Ordinance (“IRO”) states that profits tax shall be charged for each year of assessment...
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Hong Kong Profits Tax – Computation of Profits Tax Liability This below pro-forma may assist you to prepare the profits tax computation of your company/business. HK$ HK$ Net...
