Hong Kong Ordinances

INLAND REVENUE ORDINANCE - SECT 63K

Provisional profits tax to be applied against profits tax

When any person has paid provisional profits tax in respect of any year of 
assessment, the Commissioner shall, not later than when he gives notice of
assessment of profits tax, apply the amount of provisional profits tax so paid
in payment first of-

   (a)  the profits tax payable by that person for that year of  assessment;
        then

   (b)  the provisional profits tax payable in respect of the year of 
        assessment succeeding that year of assessment, and shall refund to the
        person paying the provisional profits tax the amount thereof not so
        applied. (Added 7 of 1975 s. 40)