WebOct 15, 2024 · On 18 September 2024, the Inland Revenue Department (IRD) issued an updated guidance Departmental Interpretation & Practice Notes No. 1 ( “DIPN 1”) on: (a) computing assessable profits; (b) revenue recognition under HKFRS 15 Revenue from Contracts with Customers; and (c) measurement of inventories or stock. Web3.3 Did you have any deemed assessable profits under section 20AE and/or 20AF of the Inland Revenue Ordinance 6 for this year of assessment? If yes, submit the information as required in the Notes. 3.4 Does the amount of the Assessable Profits/Adjusted Loss entered in Part 1 include any interest, profits/loss 7

Hong Kong Tax - Errors or Omissions on Tax Return

WebINLAND REVENUE ORDINANCE (Chapter 112) (Notice under sections 51AA(5) and (6)) In exercise of the powers conferred on me under sections 51AA(2) and 51AA(6) of the Inland ... (iii) the corporation does not have deemed assessable profits pursuant to section 20AE, 20AF, 20AX and/or 20AY of the Ordinance for that year of assessment; ... Webwithin the meaning of section 1563(a) (2), stock owned by a person who is an individual, estate, or trust includes: • Stock owned directly by such person, and • Stock constructively … flyertech ltd

Hong Kong Offshore Funds Tax Exemption - Tricor Global

WebApr 19, 2024 · If all you have is 20AE "Excess Taxable Income", you shouldn't need to file it. But when you get an entry for "Excess Business Interest Expense" (box 13, code K), you'll need to. Here's the "Who Must File" section from the form: A taxpayer with business interest expense; a disallowed business interest expense carryforward; or current year or WebInland Revenue Ordinance (Chapter 112) REVENUE (PROFITS TAX EXEMPTION FOR OFFSHORE FUNDS) BILL 2005 PURPOSE At the meeting of the Executive Council on 21 June 2005, the ... resident person under the proposed section 20AE. LEGISLATIVE TIMETABLE 14. The legislative timetable will be - Publication in the Gazette 30 June 2005 First Reading … WebItem 3.3 DEEMED ASSESSABLE PROFITS UNDER SECTION 20AE AND/OR 20AF OFTHE INLAND REVENUE ORDINANCE You must include the deemed assessable profits under section 20AE and/or 20AF in your Assessable Profits or Adjusted Loss, as stated in Part 1, if:- a non-resident person's assessable profits are exempt from tax under section 20AC of … flyer team building