Partnership taxation (Hong Kong)
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Partnership taxation in Hong Kong is the taxation of the profits or losses generated by partnership business entities. First, these profits or losses of the partnership are assessed according to the Hong Kong Inland Revenue Ordinance, Chapter 112, section 22. After assessment, then said profits or losses flow through the partnership to the partners who are then taxed on their share of said profits or losses generated by the partnership without any taxes levied against the partnership.
The profits or losses of the partnership are assessed in one lump sum by the managing partner or agent. [1] The tax may be recoverable from the assets of the partnership or the partners directly even if the partnership has dissolved.[1]
