A118
Ord. No. 18/86
ESTATE DUTY (AMENDMENT)
HONG KONG
L.S.
No. 18 OF 1986
I assent.
An Ordinance to amend the Estate Duty Ordinance.
Edward YOUDE,
Governor. 1 May 1986
INLAND REVENUE (AMENDMENT) (NO. 2)
Ord. No. 19/86
A119
HONG KONG
No. 19 OF 1986
I assent.
L.S.
Edward YOUDE,
Governor.
An Ordinance to amend the Inland Revenue Ordinance.
1 May 1986
Short title.
Amendment of
section 10A.
(Cap. 111.)
[2 May 1986]
Enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof.
1. This Ordinance may be cited as the Estate Duty (Amendment) Ordinance 1986.
2. Section 10A(2) of the principal Ordinance is amended-
(a) in paragraph (c) by deleting the full stop at the end thereof and substituting
a semicolon; and
(b) by inserting after paragraph (c) the following-
"(d) property to which subsection (1) (a) applies shall, if the deceased-
(i) died intestate as to that property; and
(ii) is survived by his spouse,
be deemed to have passed on his death to or for the benefit of his spouse.".
Passed by the Hong Kong Legislative Council this 30th day of April 1986.
LAW Kam-sang, Clerk to the Legislative Council.
This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly printed copy of the said bill.
t
F
LAW Kam-sang,
Clerk to the Legislative Council.
!
[1 April 1986]
Enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof.
1. This Ordinance may be cited as the Inland Revenue (Amendment) (No. 2) Short title and Ordinance 1986 and shall apply in relation to the year of assessment commencing application. on 1 April 1986 and subsequent years of assessment.
2.
Section 15 of the principal Ordinance is amended-
(a) in subsection (1)—
Amendment of
(i) by deleting paragraphs (ƒ) and (g) and substituting the following-
"(ƒ) sums received by or accrued to a corporation carrying on a trade, profession or business in Hong Kong by way of interest derived from Hong Kong;
(g) sums received by or accrued to a person, other than a corporation, carrying on a trade, profession or business in Hong Kong by way of interest derived from Hong Kong which interest is in respect of the funds of the trade, profession or business and is exempt from interest tax under Part V:"; and
(ii) by deleting paragraphs (j) and (k) and substituting the following
"(j) sums received by or accrued to a corporation carrying on a trade, profession or business in Hong Kong by way of gains or profits arising in or derived from Hong Kong from the sale or other disposal or on the redemption on maturity or presentment of a certificate of deposit or bill of exchange;
(k) sums received by or accrued to a person, other than a corporation. carrying on a trade, profession or business in Hong Kong by way of gains or profits arising in or derived from Hong Kong from the sale or other disposal or on the redemption on maturity or presentment of a certificate of deposit or bill of exchange where such gains or profits are in respect of the funds of the trade, profession or business and are exempt from interest tax under Part V; and
(1) sums, not otherwise chargeable to tax under this Part, received by or accrued to a financial institution by way of gains or profits arising through or from the carrying on by the financial institution of its business in Hong Kong from the sale or other disposal or on the redemption on maturity or presentment of a certificate of deposit or bill of exchange notwithstanding that-
(i) the moneys laid out for the acquisition of the certificate or bill were made available outside Hong Kong; or
(ii) the sale, disposal or redemption is effected outside Hong Kong.";
section 15. (Cap. 112.)