- Estate Duty Ordinance Cap.111
Estate Duty Ordinance Cap.111 (in short, Cap 111 ESO) is one of
Hong Kongordinances. It regulates the HK estate duty which was a tax imposed on capital asset- the net value of property situated in Hong Kong at the date of the taxpayer's death. It is chargeable irrespective of whether the deceased was a resident of Hong Kong.
The most common used Sections
Cap 111 EDO Section.2 Application
* This Ordinance is to apply in the case of every deceased person who dies on or after
January 1, 1916and before February 11, 2006.
Cap 111 EDO Section.3 Interpretation
* Some terms using in this Ordinance are interpretated including the following key words:
** "account" (遺產呈報表)
** "affidavit for the Commissioner" (遺產申報誓章)
** "executor" (遺囑執行人) means the executor or administrator of a deceased person.
** "property passing on the death" (去世時轉移的財產)
Cap 111 EDO Section.5 Estate duty
Cap 111 EDO Section.6 What property is deemed to pass on death
Cap 111 EDO Section.10 Exceptions for transactions with money consideration, non-HK property, stocks & certain land in the N.T. HK.
Cap 111 EDO Section.10A Exceptions for matrimonial home
Cap 111 EDO Section.12 Payment of estate duty
Cap 111 EDO Section.13 Value of property; allowance for debts and funeral expenses
Cap 111 EDO Section.16 Increase of estate duty when delay in lodging affidavit
Cap 111 EDO Section.18 Charge of estate duty on property
Cap 111 EDO Section.22 Appeal to Court of First Instance
Cap 111 EDO Section.31 Relief in respect of quick succession where property consists of leasehold property or a business
Cap 111 EDO Section.34 Controlled companies
Cap 111 EDO Section.35 Charge on assets of controlled companies
Cap 111 EDO Section.44 Value of shares and debentures of controlled companies
Cap 111 EDO Section.45 Limitation on dispositions through a controlled company in favour of relatives
Cap 111 Sched 1 Table of
Estate dutyrates to be payable
* [http://www.legislation.gov.hk/blis_ind.nsf/CurAllEngDoc?OpenView&Start=111&Count=30&Expand=111.1#111.1 Hong Kong Estate Duty Ordinance Cap.111]
* [http://www.ird.gov.hk/eng/tax/edu.htm#16 HK Inland Revenue Department: The introduction of EDO & the "Revenue (Abolition of Estate Duty) Ordinance 2005".]
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