Assessment of Partnership
The profits or losses of the partnership are assessed in one lump sum by the managing partner or agent. The tax may be recoverable from the assets of the partnership or the partners directly even if the partnership has dissolved.
Read more about this topic: Partnership Taxation (Hong Kong)
Famous quotes containing the words assessment of, assessment and/or partnership:
“The first year was critical to my assessment of myself as a person. It forced me to realize that, like being married, having children is not an end in itself. You don’t at last arrive at being a parent and suddenly feel satisfied and joyful. It is a constantly reopening adventure.”
—Anonymous Mother. From the Boston Women’s Health Book Collection. Quoted in The Joys of Having a Child, by Bill and Gloria Adler (1993)
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—Anonymous Mother. From the Boston Women’s Health Book Collection. Quoted in The Joys of Having a Child, by Bill and Gloria Adler (1993)
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