Hong Kong Tax Alert - Issue 16, September 2013
On 16 August 2013, the Court of Appeal granted the Commissioner of Inland Revenue leave to appeal to the Court of Final Appeal on whether a balancing charge should be imposed on Aviation Fuel Supply Company (AFSC) on the sale of plant and machinery. Subsequently, on 19 August 2013 the Court of Final Appeal dismissed the application for leave to appeal by Braitrim (Far East) Limited on whether Braitrim’s arrangement with mainland factories for the provision of moulds came within the statutory definition of a “lease”.
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