The Inland Revenue Ordinance is one of

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

's Ordinances. It regulates the inland

revenue In accounting, revenue is the total amount of income generated by the sale of product (business), goods and services related to the primary operations of a business. Commercial revenue may also be referred to as sales or as turnover. Some compan ...

of Hong Kong.

Most commonly used sections

Interpretation

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

Property tax

IRO Section.5 Charge of

property tax A property tax (whose rate is expressed as a percentage or per mille, also called ''millage'') is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or Wealth t ...

IRO Section.5B Ascertainment of assessable value IRO Section.7C Rental Bad debts (irrecoverable & recovered)

Salaries tax

IRO Section.8 Charge of salaries tax IRO Section.9 Definition of income from employment

Profit tax

IRD Rules 5 Charge of Profit tax in respect of non-resident IRO Section.14 Charge of profits tax IRO Section.15 Certain amounts deemed trading receipts IRO Section.16 Ascertainment of chargeable profits 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.20A Consignment Tax IRO Section.22 Assessment of

partnership A partnership is an agreement where parties agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations ...

s IRO Section.24 Clubs,

trade association A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific Industry (economics), industry. Through collabor ...

s, etc. IRO Section.25 Deduction of

from profits 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 IRO Section.88A Advance rulings

External links

Inland Revenue Ordinance Cap.112 (online)

Software R&D Tax
Taxation in Hong Kong Hong Kong legislation {{HongKong-law-stub