Search results
Results from the WOW.Com Content Network
The Hong Kong Institute of Certified Public Accountants (HKICPA, Chinese: 香港會計師公會) is the professional accounting body of Hong Kong. Its main responsibilities are: Registering accountants and issuing practising certificates. Regulating the professional conduct and standards of members.
The wages and incomes received from employment are subjected to tax. Income tax rate in Hong Kong is 2% when net taxable income is from 1 to 50,000 Hong Kong dollars, 6% when net taxable income is between 50,001 and 100,000 Hong Kong dollars, 10% when net taxable income is between 100,001 and 150,000 Hong Kong dollars and 14% when net taxable ...
In Hong Kong, profits tax is an income tax chargeable to business carried on in Hong Kong. Applying the territorial taxation concept, only profits sourced in Hong Kong are taxable in general. Capital gains are not taxable in Hong Kong, although it is always arguable whether an income is capital in nature.
IRO Section.25 Deduction of property tax from profits tax. Any person's HK property tax payable can be set off by the same HK profit tax payable. IRO Section.26A Exclusion of certain profits from tax IRO Section.26B Concessionary deductions, general provisions IRO Section.26C Approved charitable donations
Accountancy in Hong Kong is regulated by the HKICPA under the Professional Accountants Ordinance (Chapter 50, Laws of Hong Kong). The auditing industry for limited companies is regulated under the Companies Ordinance (Chapter 32, Laws of Hong Kong), and other Ordinances such as the Securities and Futures Ordinance, the Listing Rules, etc.
The ACCA qualification is highly accepted by the Hong Kong employment market. Most HKICPA members qualified through a joint scheme with Hong Kong Society of Accountants (HKSA) which operated for more than 20 years. HKSA later became HKICPA. [50] At the end of 2016 there were 18,238 members and over 8,000 students in Hong Kong.
The Hong Kong Accounting Standards (HKAS), formerly HKSSAP, is a set of accounting standards issued by the Hong Kong Institute of Certified Public Accountants.
Salaries tax is imposed on any office, employment and pension sourced in Hong Kong. [1] Office basically refers to the holding of office as a director or company secretary of the company resident in Hong Kong. Director's fee is fully taxable in Hong Kong irrespective where the director rendered services in Hong Kong or not. [2]