The question whether or not the profits including commissions arising out of securities and commodities trading are subject to Hong Kong corporate income tax have been subject to several Hong Court cases. In Nice Cheer Investment Limited v CIR (HCIA 8/2007), dated 28th of June 2011, were however the unrealised gains arising out of the […]
In a recent ‘Wordwide Tax Daily’ article from Taxanalysts, it was stated that the tax system in Hong Kong is exceptionally simple! Of course, the article is right in as much that the current Hong Kong Inland Revenue Ordinance does not contain many pages, at least not when compared to the tax provisions of many […]
Guoshuihan [2009] No. 698 (“Circular 698”) was issued on the 10th of December 2009 and is still subject to considerable controversy, mainly because of its lack of clarity regarding non-residents of Mainland China. Some guidelines on the application of Circular 698 can be derived from Guo Shui Fa [2010] No 75 (“Circular 75”), which contains […]
Stock Lending & Repo Transactions According to a recent Securities Lending Times newsletter, despite the downturn, Hong Kong is still the market leader in terms of the securities lending industry and this market has been picking up throughout the first half of this year. This is of course good news for Hong Kong and […]