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Clifford Chance

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Hong Kong Court of Final Appeal definitively rules in favour of taxpayer that its receipt arising from disposition of land is not chargeable to profits tax

18 July 2019

The Hong Kong Court of Final Appeal has handed down an important unanimous decision in favour of the taxpayer, ruling that monies received by the taxpayer pursuant to a redevelopment agreement should be considered "capital" and not "revenue", hence the taxpayer is not liable to profits tax.

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Hong Kong Court of Final Appeal definitively rules in favour of taxpayer that its receipt arising from disposition of land is not chargeable to profits tax

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