January 13, 2010
In December 2009, the Inland Revenue Department published the revised Departmental Interpretation and Practice Note No.21 (Revised) – “Locality of Profits”.
The determination of the location of a source of a given profit has caused some disputes between taxpayers and the Inland Revenue Department. It is clear that the source of a profit is “what the [...]
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January 11, 2010
One of the more frustrating aspects of Hong Kong company law is that all Hong Kong-incorporated companies require an audit, irrespective of the value of the company’s turnover, the number and nature of its shareholders etc. By comparison, a Singapore Exempt Private Company, i.e. a company with not more than 20 shareholders (none of whom [...]
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