# Inland Revenue Ordinance

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The Inland Revenue Ordinance is one of Hong Kong's Ordinances. It regulates the inland revenue of Hong Kong.

## Most commonly used sections
### Interpretation

IRO Section.2 Interpretation of some terms using in the ordinance.

### Property tax

IRO Section.5 Charge of property tax
IRO Section.5B Ascertainment of assessable value
IRO Section.7C Rental Bad debts (irrecoverable & recovered)

### Salaries tax

IRO Section.8 Charge of salaries tax
IRO Section.9 Definition of income from employment

### Profit tax

IRD Rules 5 Charge of Profit tax in respect of non-resident
IRO Section.14 Charge of profits tax
IRO Section.15 Certain amounts deemed trading receipts
IRO Section.16 Ascertainment of chargeable profits
IRO Section.17 Deductions not allowed

### Tax computation

IRO Section.18 Basis for computing profits
IRO Section.18F Adjustment of assessable profits
IRO Section.19 Treatment of losses
IRO Section.20 Liability of certain non-resident persons
IRO Section.20A Consignment Tax
IRO Section.22 Assessment of partnerships
IRO Section.24 Clubs, trade associations, etc.
IRO Section.25 Deduction of property tax from profits tax
* Any person's HK property tax payable can be set off by the same HK profit tax payable.
IRO Section.26A Exclusion of certain profits from tax
IRO Section.26B Concessionary deductions, general provisions
IRO Section.26C Approved charitable donations
IRO Section.26D Elderly residential care expenses
IRO Section.26E Home loan interest
IRO Section.26G Contributions to recognized retirement schemes
IRO Section.27 Allowances, general provisions
IRO Section.28 Basic allowance
IRO Section.29 Married person's allowance
IRO Section.30 Dependent parent allowance
IRO Section.31 Child allowance
IRO Section.32 Single parent allowance
IRO Section.34 Initial and annual allowances, industrial buildings and structures
IRO Section.35 Balancing allowances and charges, buildings and structures
IRO Section.37 Initial and annual allowances, machinery or plant
IRO Section.38 Balancing allowances and charges, machinery or plant
IRO Section.41 Election for personal assessment

### Tax administration

IRO Section.51 Returns and information to be furnished
IRO Section.51C Business records to be kept
IRO Section.51D Rent records to be kept
IRO Section.56A Joint owners and co-owners
IRO Section.88 Exemption of charitable bodies
IRO Section.88A Advance rulings