Salaries tax
From Wikipedia, the free encyclopedia
Salaries tax in Hong Kong taxation system is Direct tax and also classified Income tax.
According to Cap.112 Hong Kong Ordinance, Inland Revenue Ordinance (abbreviated to IRO) IRO Section 8, unless otherwise provides, salaries tax is chargeable on income from any office, employment and pensions for a year of assessment arising in or derived from Hong Kong.
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[edit] Year of Assessment
The period of assessment is from April 1st to March 31st of the following year.
[edit] Income from office
An office holder is a position which may be called a company director. The source of income from an office is determined by the location of the office. The key factor is the place of management and control of the office. For example, the directors hold one of their board meetings in Hong Kong then the income will be subject to salaries tax fully without time apportionment.
[edit] See also
- Inland Revenue Department (Hong Kong)
- Goepfert case and DIPN10
- 60-day rule
- Double tax arrangement
- Share options
- Rental value
