CO129-615-2 Income tax 10-3-1947 - 6-2-1948 — Page 155

ANNEXURE 'A'

A BILL

INTITULED

An Ordinance to impose a Tax on Earnings and Profits.

BE it enacted by the Governor of Hong Kong with the advice and consent of the Legislative Council thereof, as follows:

CHAPTER I.

1. This Ordinance may be cited as the Inland Revenue Short title. Ordinance, 1947.

2. In this Ordinance, unless the context otherwise Interpreta requires--

"active partner", in relation to a partnership, means a partner who takes an active part in the control, management, or conduct of the trade or business of such partnership;

'agent", in relation to a non-resident person or to a partnership in which any partner is a non-resident person, includes-

(a) the agent, attorney, factor, receiver, or manager in the Colony of such person or partnership, and

(b) any person in the Colony through whom such person or partnership is in receipt of any profits or income arising in or derived from the Colony;

"Assessor" means an Assessor appointed under this Ordinance;

"Assistant Commissioner" means an Assistant Commis- sioner of Inland Revenue appointed under this Ordinance;

"authorized representative" means an individual authorized in writing by any person to act on his behalf for the purposes of this Ordinance who is-

(a) in any case—

(i) an accountant approved by the Commissioner, a solicitor, or counsel instructed by a solicitor, (iii) an employee regularly employed by the person

(ii)

concerned, or

(iv) any other person approved by the Commis-

sioner;

(b) in the case of an individual, a relative;

(c) in the case of a company, a director or officer of

the company;

(d) in the case of a partnership, a partner;

(e) in the case of a body of persons, a member;

"basis period" for any year of assessment is the period.

on the profits of which tax for that year falls to be computed.

tion.

No. 7 of

"bill of sale" means a bill of sale registrable under the Ordinance Bills of Sale Ordinance, 1886;

1886