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The IRD is the Hong Kong government department responsible for collecting taxes and duties. It was established in 1947 and administers various ordinances, such as the Inland Revenue Ordinance and the Stamp Duty Ordinance.
Learn about the tax system in Hong Kong, which is independent of and different from mainland China. Find out the types, rates, sources and deductions of direct and indirect taxes, such as income tax, profits tax, property tax and stamp duty.
The Government argued that Hong Kong's tax base was narrow; thus, a single-rate GST was a viable option for Hong Kong in order to broaden the tax base and secure the sustainability of tax revenues base and the capacity to meet public expenditure needs in the long run.
A property tax known as "rates" has been levied in Hong Kong since 1845. ... Hong Kong Special Administrative Region Government, Hong Kong, China;
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]
Learn about the executive authorities of Hong Kong, formed in 1997 after the handover from Britain to China. The government is led by a Chief Executive, appointed by the State Council of China, and has a two-tiered system of legislature and judiciary.
The Inland Revenue Ordinance is a Hong Kong law that regulates the taxation of property, income and profits. It covers topics such as property tax, salaries tax, profits tax, tax computation, tax administration and tax exemptions.
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.