Description :

Laws of taxation in the hong kong sar hong kong open university of hong kong press hong kong university press c2001 ocolc606551593 online version hsu berry fong chung 1950 laws of taxation in the hong kong sar hong kong open university of hong kong press hong kong university press c2001 ocolc608119959 material type . The hong kong sar government is committed to upholding the rule of law which has played a vital role in hong kong sars success in the past hong kong sar is one of the freest economies in the world hong kong sar became a member of the asia pacific economic cooperation in 1991 and a member of the world trade organization wto on 1 january . Under article 108 of the basic law of hong kong the taxation system in hong kong is independent of and different from the taxation system in mainland chinain addition under article 106 of the hong kong basic law hong kong enjoys independent public finance and no tax revenue is handed over to the central government in china the taxation system in hong kong is generally considered to be . Hong kong operates a territorial basis of taxation broadly speaking non capital profits sourced in hong kong should be subject to hong kong profits tax under the territorial basis of taxation foreign sourced income is outside the scope of hong kong profits tax