Profits Tax Guide *  Click and read the following topics:

Basic charge  *  Chargeable persons  *  What is a trade  *   Sale of a property   *   Badges of trade

What is a business    *   What is a profession  *   Business carried on in Hong Kong  

Permanent establishment   *   Sole-proprietor   *   Partnership   *  Body of persons  

Limited company   *   Non-resident   *   Assessable profits   *   Source of profits  

Deemed assessable receipts   *   Capital gains, revenue gains   *   Compensation receipts  

Voluntary receipts   *   Exempt receipts   *   When are profits assessable   *   Deductions  

Capital versus revenue expenditure   *  Section 16(1) of Inland Revenue Ordinance    

Section 17 of Inland Revenue Ordinance   *   Sales expenditure  *  Commissions etc.  

Cost of goods sold   *   Valuation of stock   *   When an expenditure is incurred 

In the production of assessable profits   *    Protecting & defending an asset  

Repairs expenditure   *   Refurbishment expenditure   *   Removal expenditure

Prepaid expenditure   *   Notional expenditure   *    Fines, penalties etc.   *   Bad debts   

Entertainment expenditure   *   Interest expenditure   *   Employees' expenditure   

MPF contribution by self-employed person   *   Excessive remuneration   *   Management fee

Purchase of machinery for manufacturing   *   Computer hardware and software   

Patent rights etc.   *   Donations   *   Payments of mainland's / foreign taxes  

Expenditure for ceasing the business    *    Exchange losses / gains    *   Technical education  

Scientific research   *   Post cessation expenditures   *   Depreciation allowances   

Industrial building allowance (IBA)    *   Qualifying trade   *   Qualifying expenditure   

Qualifying person   *   Initial and annual allowances   *   Illustrations showing computation of IBA  

Balancing adjustment on disposal of industrial building   *  Commercial building allowance (CBA)   

Annual allowance   *   Balancing adjustment on disposal of commercial building  

An illustration showing computation of CBA   *    Plant and machinery allowance (P&M)

Meaning of plant and machinery   *   The old system   *    Assets partly used for trade  

Asset under hire purchase   *   The new pooling system   *    Illustrations of P&M allowances

Basis period   *   Normal basis   *   Commencement of business   *  Cessation of business 

Change of accounting date   *  Profits Tax Tips