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Initially it administered only one piece of legislation, the Inland Revenue Ordinance, which was enacted on 3 May 1947. [ 2 ] The department subsequently absorbed various elements of the Treasury , including the Estate Duty Office (in 1949), the Stamp Duty Office (1956), and responsibility for collection of entertainments, bets and sweeps, and ...
The Inland Revenue Ordinance is one of Hong Kong's Ordinances. It regulates the inland revenue of Hong Kong. Most commonly used sections. Interpretation. IRO Section ...
Under Article 108 of the Basic Law of Hong Kong, the taxation system in Hong Kong is independent of, and different from, the taxation system in mainland China. In addition, under Article 106 of the Hong Kong Basic Law, Hong Kong has independent public finance, and no tax revenue is handed over to the Central Government in China. [1]
To argue whether profits arising in or derived from Hong Kong, case law judgments are often referred. The fundamental source rule was laid down by the landmark case The Commissioner of Inland Revenue ("CIR") v.
Partnership taxation in Hong Kong is the taxation of the profits or losses generated by partnership business entities.First, these profits or losses of the partnership are assessed according to the Hong Kong Inland Revenue Ordinance, Chapter 112, section 22.
Salaries tax is imposed on any office, employment and pension sourced in Hong Kong. [1] Office basically refers to the holding of office as a director or company secretary of the company resident in Hong Kong. Director's fee is fully taxable in Hong Kong irrespective where the director rendered services in Hong Kong or not. [2]
The Companies Registry [1] (CR; Chinese: 公司註冊處; also as Hong Kong Companies Registry [2] [3]) is a government department under the Financial Services and the Treasury Bureau of the Government of Hong Kong.
This is a list of government agencies of the Hong Kong Government. The policies of the government are formulated decided by the bureaux led by secretaries and permanent secretaries are discussed in the Executive Council and implemented by the departments and agencies.