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FAQ > Business Tax in Hong Kong > B11

Q: What expenses could be deductible from Assessible Profits? View : 63
A:

Generally, all outgoings and expenses, to the extent to which they have been incurred by the taxpayer in the production of chargeable profits, are allowed as deductions.

In computing the assessable profits deduction is specifically prohibited in respect of the following:-

- Domestic or private expenses and any sums not expended for the purpose of producing the profits;
- Any loss or withdrawal of capital, the cost of improvements and any expenditure of a capital nature;
- Any sum recoverable under insurance or contract of indemnity;
- Rent of or expenses relating to premises not occupied or used for the purpose of producing the profits;
- Taxes payable under the Inland Revenue Ordinance
- Any remuneration or interest on capital or loans payable

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