Jan 2010, Issue 1
Source of profits remains an issue for cross-border processing businesses
There have been a few developments in Hong Kong profits tax relating to cross-border processing businesses. In this news flash, we discuss the developments on the source issue for profits derived from such businesses and in a separate one, we will discuss the denial of tax relief by the Inland Revenue Department ("IRD") for costs incurred by these businesses on acquiring the plant and machinery to produce such profits.
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