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Clifford Chance

Briefings

Hong Kong court rules directors who signed incorrect company tax return not liable to penalty tax

3 December 2018

In the first decision of its kind, the Hong Kong Court of First Instance has ruled that two company directors who submitted an incorrect tax return on behalf of the company should not be liable for an additional penalty assessment of tax. The Court has also found that an agent of a corporate taxpayer is not precluded from reopening questions regarding the taxpayer's liabilities to profits tax.

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Hong Kong court rules directors who signed incorrect company tax return not liable to penalty tax

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