22 Dec 2009

Prohibited Deductions Under Section 17 of the Income Tax Ordinance

by Darren

Under section 17 of the Hong Kong taxation law certain expenses are not deductible from a taxpayer's assessable profits. These include:
  • domestic or private expenses
  • expenses not incurred for profit-producing purposes
  • expenditure of a capital nature, or any loss or withdrawal of capital
  • the cost of improvements
  • sums recoverable under insurance contracts
  • expenses connected with premises not occupied for profit-producing purposes
  • tax paid under the Ordinance other than salaries tax paid in respect of employees' remuneration
  • Total payments or provisions made as ordinary contribution and insurance premium which exceed 15% of the total compensation of the relevant employee
  • payments to or for benefit of spouses or partners

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