Abstract
In the recent decision in Newfair Holdings Limited v. CIR, the Court of First Instance (CFI) allowed the taxpayer’s appeal and overturned the decision of the Board of Review in Case No. D14/20. The CFI reaffirmed the principles for determining the locality of profits and ruled that (i) the taxpayer did not carry on a business in Hong Kong, and (ii) its profits did not arise from commercial operations in Hong Kong. The profits of the taxpayer were non-Hong Kong sourced and not chargeable to Hong Kong profits tax.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
