1955-HKRS29-8-22_Part03 — Page 2

Amend.

ment of section 25.

26

(c) by the deletion from the tenth line of subsection (1) of the words "the body of persons" and the substitution therefor of the following-

"such person";

(d) by the deletion from the first and second lines of sub- section (2) of the words "body of persons, whether corporate or unincorporate," and the substitution there- for of the following-

"person";

(c) by the deletion from the sixth line of subsection (2) of the words "budy of persons" and the substitution therefor of the following-

"person"';

(0) by the deletion from the seventh line of subsection (2) ol the words ''ius income" and the substitution therefor of the following

"the income of such association";

(g) by the deletion from the tenth line of subsection (2) of the words "the body of persons" and the substitution therefor of the following-

"'such person";

(4) by the deletion of subsection (3) and the substitution

therefor of the following subsection...........

"(3) In this section, "members" means those persons entitled to vote at a general meeting of the club, or similar institution, or trade association."

35. Section 35 of the principal Ordinance is amended-

(a) by the deletion from the third line of paragraph (a) of the proviso of the word "taxable" and the substitution therefor of the following-

"assessable":

(b) by the deletion from the fifth line of paragraph (a) of the proviso of the words "but not for residential purposes";

(c) by the deletion of paragraph (b) of the proviso and the

substitution therefor of the following-

"(6) where property tax for any year of assessment, which would otherwise have been allowed as a deduction, exceeds the amount of the profits tax payable for that year, the amount of the excess shall be carried forward and for the purposes of this section deemed to be property tax paid in respect of the next succeeding year of assUSS- ment.**

section 20.

38. Section 26 of the principal Ordinance is amended by the Amend- deletion from the first and second lines of paragraph (b) of the ment of words "subsection (2) of section 15" and the substitution therefor of the following-

"section (5A”.

31. Section 27 of the principal Ordinance is repealed and Repeal and replaced by the following section-

"Provision

in regard to doubt as to whether a profit is a profit arising in or derived from the Colony.

27. (1) In the case of any doubt as to whether a profit is for the purposes of this Part a profit arising in or derived from the Colony the onus of proving that such profit is not a profit arising in or derived from the Colony shall always be on the person charged to tax in respect of such profit.

(2) In determining any such doubt where the person disputing the charge to tax is either a corpora- tion incorporated in the Colony, or a person other than a corporation ordinarily resident in the Colony, regard shall be had to the fact inter alia as to whether or not the profit in dispute has borne elsewhere a tax of sub- stantially the same nature as the tax charged on such profit under this Part.

(3) For the purpose of subsection (2) an assessor may require the person disputing the charge to tax to declare in writing-

(4) the name of the place in which he alleges the

profit arose or whence it was derived; and

(b) whether such profit has or has not borne in that place a tax of substantially the same nature as the tax charged on such profit under this Part."

Teplace- ment of

section 27.