The Hong Kong Inland Revenue Department published an advance ruling on 8 December 2021 concerning the tax treatment of a capital reserve that was recognized as a result of the waiver of amounts due for financing.

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Advance Ruling Case No. 67

1. The provisions of the Ordinance

This ruling applies in respect of sections 14(1), 15(1)(c), 15(2), 61 and 61A of the Inland Revenue Ordinance (…

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