Volume 34 Third Supplement
Publication Date: Sep 2020
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DIGEST OF CASES REPORTED
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Decision No. |
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COSTS |
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unreasonably wrong accusations – produce irrelevant documents and witnesses |
D16/18 |
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PROFITS TAX |
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appellant raising loan from bank and transferring to a related company following the Group’s treasury policy – deduction of bank charge and bank loan interest – whether bank charge and bank loan interest incurred in producing profits to which the Appellant was chargeable – whether any real necessity for Appellant to raise facility – whether Appellant illiquid – whether the loan surplus to the Appellant’s requirements – sections 16, 17 and 68 of the Inland Revenue Ordinance (Chapter 112) (‘IRO’) |
D20/18 |
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determination of profits tax assessment – expenses incurred for purpose of the production of profits – properties handling expenses and entertainment expenses – Inland Revenue Ordinance (Chapter 112) sections 16(1), 17(1), 61, 68, 68(4) |
D15/18 |
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import processing – form of transactions – lease of machinery – sections 2, 14, 16(1), 16G, 17(1), 18F, 39B and 39E of the Inland Revenue Ordinance |
D16/18 |
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PROPERTY TAX |
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owner – net assessable value – whether assignment unrealistic and artificial transaction – whether sole or dominant purpose to obtain a tax benefit – deduction of mortgage interest – sections 2, 5, 42(1), 61, 61A, 68(4) and 68(9) of IRO |
D21/18 |
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SALARIES TAX |
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change the payday – the accumulate income for the tax assessment year – sections 11B and 11D(b) of Inland Revenue Ordinance – risk to bear the legal cost [Decision in Chinese] |
D18/18 |
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sections 9(1)(d) and 9(4) of Inland Revenue Ordinance – relevant time and the amount of the gain from the exercise of the option – tax a notional gain, rather than an actual gain – subscription price in determining the value of share – discount on the value of shares for such pre-emptive rights, and other restrictions on sale – no variation in terms of policy in giving discount across different types of shares |
D17/18 |
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whether income arose or derived from any office or employment of profit – whether ex-gratia payment paid on employee’s resignation was such income – Inland Revenue Ordinance (‘the Ordinance’) section 8 |
D22/18 |
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whether salaries tax chargeable on bonus received – whether bonus received after the year of assessment should be included in the assessment for that year of assessment – Inland Revenue Ordinance (‘the Ordinance’) sections 11B, 11C, 11D [Decision in Chinese] |
D19/18 |
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Note: The latest position of unsettled appeals is shown in either (a) Table of Appeals to Court of First Instance or (b) Table of Appeals to Court of Appeal/Court of Final Appeal. When the final outcome of an appeal is known, the position is set out in either table and will disappear in the next issue of Board of Review Decisions.
To view "Table of Appeals to Court of First Instance/Court of Appeal/Court of Final Appeal" (position as at 31.5.2020), please click here.