Hong Kong Regulations

TAX EXEMPTION (2001 TAX YEAR) ORDER - SECT 2

Exemption from tax

(1) Subject to subsection (2), any person who is chargeable to tax under Part
III of the Ordinance for the 2001 tax year shall be exempt from the payment of
an amount equivalent to-

   (a)  50% of the amount of the tax to which he is so chargeable; or

   (b)  $3000, whichever is the less.

(2) Any person who is chargeable to tax under Part VII of the Ordinance for
the 2001 tax year shall be exempt from the payment of an amount equivalent to-

   (a)  subject to paragraph (b)-

        (i)    50% of the amount of the tax chargeable on the person under
               section 43 of the Ordinance for that tax year; or

        (ii)   $3000, whichever is the less; or

   (b)  where the person and his or her spouse have elected under section
        41(1A) of the Ordinance to be assessed under Part VII of the Ordinance
        for that tax year, the appropriate proportion of-

        (i)    50% of the amount of the tax chargeable on the person and his
               or her spouse under section 43 of the Ordinance for that tax
               year; or

        (ii)   $3000, whichever is the less.