Partnership Taxation (Hong Kong)
Partnership taxation in Hong Kong is the taxation of the profits or losses generated by partnership business entities. First, these profits or losses of the partnership are assessed according to the Hong Kong Inland Revenue Ordinance, Chapter 112, section 22. After assessment, then said profits or losses flow through the partnership to the partners who are then taxed on their share of said profits or losses generated by the partnership without any taxes levied against the partnership.
Other articles related to "partnership":
... his or her share of the profits or losses generated by the partnershipexcluding partnershiplosses brought forward under section 19C ... The partner'sshare in this partnershipis governed by Inland Revenue Ordinance,Chapter 112,section 22B ... Said partner'sshare equals to the sum of contributions made to the partnershipas capital less distributions or constructive distributions ...
Famous quotes containing the words taxation and/or partnership:
“Every diminution of the public burdens arising from taxation gives to individual enterprise increased power and furnishes to all the members of our happy confederacy new motives for patriotic affection and support.”
—Andrew Jackson (17671845)
“Society is indeed a contract.... It is a partnership in all science; a partnership in all art; a partnership in every virtue, and in all perfection. As the ends of such a partnership cannot be obtained in many generations, it becomes a partnership not only between those who are living, but between those who are living, those who are dead, and those who are to be born.”
—Edmund Burke (17291797)