Blog > 2009 > July

From the monthly archives:

July 2009

Court of Appeal ‘Disregarded the Board of Review’ Findings on Fact in Inland Revenue vs Datatronic Limited case

July 29, 2009

The recent decision by the Court of Appeal in the case of Commissioner of Inland Revenue and Datatronic Limited, handed down on 15th July 2009, in favour of the Commissioner of Inland Revenue may not have come as a surprise to some but will undoubtedly be a cause of concern to others.  (The facts of [...]

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Exchange of Information Bill Introduced into LEGCO

July 28, 2009

The adoption of the more liberal OECD 2004 Exchange of Information Article (“AOI”) moved a step closer following the introduction of the Inland Revenue (Amendment) (No.3) Bill 2009 into the Legislative Council on 8th July 2009.
In case you are not familiar with the impact of this article it provides that;
“The competent authorities of the Contracting [...]

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Meet Deadlines to Avoid Penalties

July 21, 2009

The Inland Revenue Department (“the Department”) appears to have become so frustrated with delinquent taxpayers and those that persistently miss tax filing deadlines that it has resorted to issuing a standard letter advising taxpayers that for such offences the Department is allowed to raise penalties of up to 3 times the amount of unpaid tax [...]

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A Step Forward

July 6, 2009

Over the past 12 months there have been numerous debates as to whether Hong Kong should enter into comprehensive double taxation agreements (CDTA) with its major trading partners.
In simple terms a CDTA is an agreement that limits the circumstances when a source of income may be taxed in both jurisdictions participating in the agreement. This [...]

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Taxation without representation is tyranny …Budget reflections

July 6, 2009

When writing about tax the most frequently used quotation is that from Benjamin Franklin, “But in this world nothing can be said to be certain, except death and taxes.” However, reflecting on Hong Kong’s budget, the most apt quotation must surely be that from James Otis, “Taxation without representation is tyranny.”
Following the reading of the [...]

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The Cost of A Tax Appeal – The IRD Knows It!

July 6, 2009

Hong Kong’s objection and appeal procedures against tax assessments raised by the Inland Revenue Department (“the Department”) can be costly should a taxpayer wish to pursue his right of objection.
Firstly, if a taxpayer wishes to appeal against an assessment, he may be required to purchase a tax reserve certificate (“TRC’s”). Notwithstanding that it is estimated [...]

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