close
Share with your friends

The Locality of Profits for Hong Kong Tax Purposes

The Locality of Profits for Hong Kong Tax Purpose...

Hong Kong Tax Alert - Issue 12, June 2014  

1000

Related content

The Locality of Profits for Hong Kong Tax Purposes

In a published Advance Ruling, the Inland Revenue Department (IRD) ruled that although a taxpayer effected sales and purchase agreements for goods through an offshore branch, its profits had a Hong Kong source and was therefore taxable in Hong Kong. This has resulted in confusion regarding the concept of source of profits. 

© 2020 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in China, KPMG, a Macau partnership and KPMG, a Hong Kong partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited  ("KPMG International"), a private English company limited by guarantee. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.

 

For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.

Connect with us