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.

Assessment of Partnership

The profits or losses of the partnership are assessed in one lump sum by the

A partner is taxed according his or her share of the profits or losses generated by the partnership excluding partnership losses brought forward under section 19C.^[2]

The partner's share in this partnership is governed by Inland Revenue Ordinance, Chapter 112, section 22B. Said partner's share equals to the sum of contributions made to the partnership as capital less distributions or constructive distributions.

See also

• Partnership (Hong Kong)
• Partnership
• Inland Revenue Ordinance Cap.112

Notes