Results 1-10 of 26
A recent Hong Kong Court reminder to non-executive directors regarding their duty to enquire and investigate in the face of red flags
27 August 2019
The recent Hong Kong judgment of Moulin Global Eyecare Holdings Limited (in liquidation) v Olivia Lee Sin Mei  HKCFI 1715 reminds non-executive directors (NEDs), in particular those with a professional background, of their duty to exercise care and skill...
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",...
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...
Hong Kong Court challenges long-established practice of the Commissioner of Inland Revenue when dealing with an objection to tax assessment
6 November 2018
A recent judgment from the Hong Kong Court of First Instance has challenged the long-established policies of the Inland Revenue Department and held that the Commissioner of Inland Revenue has a wide discretion when dealing with an objection to a tax assessmen...
19 September 2018
Please find attached the October 2018 edition of "Contentious Commentary: Hong Kong", a publication that provides a summary of recent developments in litigation and dispute resolution. The publication is produced by lawyers in the litigation and dispute...
6 September 2018
The Court of First Instance has given important guidance on the new procedure for taxpayers to appeal against tax decisions, and the threshold test that the court will apply in deciding whether to grant permission to appeal. The issue arose when considering whether...
5 September 2018
The Hong Kong Court of Appeal has handed down an important decision on whether monies received by a taxpayer pursuant to a redevelopment agreement should be considered "capital" or "revenue" in nature. The decision – on which the judges...
24 January 2018
The Department of Justice published its long-awaited consultation paper on the Continuing Powers of Attorney Bill on 28 December 2017. It is proposed that a Continuing Powers of Attorney Ordinance (CPA Ordinance) be enacted to introduce a new continuing power of...
Failure to prevent the facilitation of tax evasion: The new extra-territorial UK criminal offence and its impact on Asian financial institutions
26 June 2017
The UK has enacted a new corporate criminal offence of failing to prevent the facilitation of tax evasion by employees and other associated persons. It is highly extra-territorial, applies to financial institutions and other businesses worldwide, and can apply...
23 June 2017
This edition of "Contentious Commentary: Hong Kong" covers: Travel agency loses first decision under new competition law No civil claim based on breach of criminal statute No grounds for wasted costs order against solicitor Liquidator stuck with...