E. Business - 10/29/00
Question
What types of tax (eg. profits tax, property tax......) should be paid when holding a E.Business (eg. net tender)?How to be calculated?
Answer
Hong Kong profits tax is charged on every person carrying on a trade, profession or business in Hong Kong and in respect of his assessable profits arising in or derived from Hong Kong from such trade, profession or business. If your web business is within the above scope of charge then it is subject to profits tax. The assessable profits is the net profit as per your financial statements after adjustments for tax allowance, disallowable items and other adjustments as ruled by the Inland Revenue Ordinance.