Read the full judgment text of CACV 196/1998 on BabelCite. This Court of Appeal judgment.
1. If you carry on business in Hong Kong, you are liable to profits tax on your assessable profits arising in or derived from Hong Kong : see s.14(1) of the Inland Revenue Ordinance, Cap. 112 ("the Ordinance"). The source of the profits is of fundamental importance. If the profits do not arise in or are not derived from Hong Kong from a business carried on in Hong Kong, they are not, generally speaking, subject to profits tax. However, s.15 of the Ordinance brings in to the charge to profits tax
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