CO129-595-3 Proposed introduction of income tax 12-12-1946 - 26-1-1947 — Page 35

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All

Inflicate

DRAFT INCOME TAX ORDINANCE

Chapter I

-

Preliminary

1.

Short title

2.

Interpretation

3.

Board of Income Tax

official secrecy

5.

Standard rate

Chapter II

Property Tax

6.

Imposition of Property Tax

7.

By whom payable

8.

Unoccupied property

Chapter III

Salaries Tax

9.

Imposition of Salaries Tax

10.

Definition of income from employment

11.

Aggregation of married persons' incomes

12.

Ascertainment of assessable income

13.

Allowances

140

Rates of Salaries Tax

Chapter IV

-

Profits Tax

15.

Imposition of Corporation Profits Tax

16. Imposition of Business Profits Tax

17. Ascertainment of Profits

Deductions not allowed

18.

19.

Basis for computing profits

20.

Treatment of losses

21.

Liability of certain non-resident persons

22.

Profits of certain businesses to be computed on a

percentage of the turnover

23.

Assessment of partnerships

ميل2

Ascertainment of profits of insurance companies

25.

Clubs, Trade Associations, etc.

26. Deduction of Property Tax from Profits Tax

35

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