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Is it necessary to report the income paid to proprietor or partners of an unincorporated business?

Is it necessary to report the income paid to proprietor or partners of an unincorporated business?

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Alex Wong
 

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It is not necessary to file form IR56B for the proprietor /any partner of an unincorporated business or his spouse. The remunerations paid to such person are not allowable deductions under the Inland Revenue Ordinance and have to be adjusted in computing the profits chargeable to Profits Tax.

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Jo
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