1964_INLAND_REVENUE_ORDINANCE — Page 36

1989 Ed.]

Inland Revenue

[CAP. 112

35

(b) in the case of a corporation to which a share of the assessable profits of a partnership is apportionable under section 22A and is charged in the partnership name under section 22, profits tax shall be charged on such share of the assessable profits at the rate of 161/4%; (Added 38 of 1975 s. 3)

Provided further that for the year of assessment commencing on 1 April 1976 and all subsequent years of assessment up to and including the year of assessment commencing on 1 April 1979-

(a) in the case of a corporation, profits tax shall be charged at the rate of 17%; and

(b) in the case of a corporation to which a share of the assessable profits of a partnership is apportioned under section 22A and is charged in the partnership name under section 22, profits tax shall be charged on such share of the assessable profits at the rate of 17%; (Added 32 of 1976 s. 2. Amended 32 of 1981 s. 2)

Provided further that for the year of assessment commencing on 1 April 1980 and all subsequent years of assessment up to and including the year of assessment commencing on 1 April 1983-

(a) in the case of a corporation, profits tax shall be charged at the rate of 161/4%; and

(b) in the case of a corporation to which a share of the assessable profits of a partnership is apportioned under section 22A and is charged in the partnership name under section 22, profits tax shall be charged on such share of the assessable profits at the rate of 161/4%; (Added 32 of 1981 s. 2. Amended 36 of 1984 s. 2)

Provided further that for the year of assessment commencing on 1 April 1984 and all subsequent years of assessment up to and including the year of assessment commencing on 1 April 1986-

1987-

(a) in the case of a corporation, profits tax shall be charged at the rate of 181/2%; and

(b) in the case of a corporation to which a share of the assessable profits of a partnership is apportioned under section 22A and is charged in the partnership name under section 22, profits tax shall be charged on such share of the assessable profits at the rate of 181/2%; (Added 36 of 1984 s. 2. Amended 28 of 1987 s. 2)

Provided further that for the year of assessment commencing on 1 April

(a) in the case of a corporation, profits tax shall be charged at the rate of 18%; and

(b) in the case of a corporation to which a share of the assessable profits of a partnership is apportioned under section 22A and is charged in the partnership name under section 22, profits tax shall be charged on such share of the assessable profits at the rate of 18%;