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Encyclopedia > Taxation in Hong Kong

HK Inland Revenue Ordinance Cap.112 is one of Hong Kong Ordinances. It regulates the inland revenue of Hong Kong. Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ...


The most common used Sections

IRO Section.2 Interpretation of some terms using in the ordinance.

Property tax

IRO Section.5 Charge of property tax Property tax, millage tax is an ad valorem tax that an owner of real estate or other property pays on the value of the property being taxed. ...

IRO Section.5B Ascertainment of assessable value

IRO Section.7C Rental Bad debts (irrecoverable & recovered)

Salaries tax

IRO Section.8 Charge of salaries tax Salaries tax Salaries tax in Hong Kong taxation system is Direct tax and also classified Income tax. ...

IRO Section.9 Definition of income from employment

Profit tax

IRO Section.14 Charge of profits tax Profit tax in Hong Kong is Direct tax and also classified into Income tax. ...

IRO Section.15 Certain amounts deemed trading receipts

IRO Section.16 Ascertainment of chargeable profits Profit, from Latin meaning to make progress, is defined in two different ways. ...

IRO Section.17 Deductions not allowed

Tax computation

IRO Section.18 Basis for computing profits

IRO Section.18F Adjustment of assessable profits

IRO Section.19 Treatment of losses

IRO Section.20 Liability of certain non-resident persons

IRO Section.22 Assessment of partnerships A partnership is a type of business entity in which partners share with each other the profits or losses of the business undertaking in which all have invested. ...

IRO Section.24 Clubs, trade associations, etc. A club is generally an association of people united by a common interest or goal, as opposed to any natural ties of kinship. ... An industry trade group is generally a public relations organization funded, founded and formed by corporations that operate in a specific industry. ...

IRO Section.25 Deduction of property tax from profits tax Property tax, millage tax is an ad valorem tax that an owner of real estate or other property pays on the value of the property being taxed. ... Profit tax in Hong Kong is Direct tax and also classified into Income tax. ...

  • Any person's HK property tax payable can be set off by the same HK profit tax payable.

IRO Section.26A Exclusion of certain profits from tax

IRO Section.26B Concessionary deductions, general provisions

IRO Section.26C Approved charitable donations

IRO Section.26D Elderly residential care expenses

IRO Section.26E Home loan interest

IRO Section.26G Contributions to recognized retirement schemes

IRO Section.27 Allowances, general provisions

IRO Section.28 Basic allowance

IRO Section.29 Married person's allowance

IRO Section.30 Dependent parent allowance

IRO Section.31 Child allowance

IRO Section.32 Single parent allowance

IRO Section.34 Initial and annual allowances, industrial buildings and structures

IRO Section.35 Balancing allowances and charges, buildings and structures

IRO Section.37 Initial and annual allowances, machinery or plant

IRO Section.38 Balancing allowances and charges, machinery or plant

IRO Section.41 Election for personal assessment

Tax administration

IRO Section.51 Returns and information to be furnished

IRO Section.51C Business records to be kept

IRO Section.51D Rent records to be kept

IRO Section.56A Joint owners and co-owners

IRO Section.88 Exemption of charitable bodies A charitable organization (also known as a charity) is a trust, company or unincorporated association established for charitable purposes only. ...

IRO Section.88A Advance rulings

External Reference

  • Inland Revenue Ordinance Cap.112 (online)



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