On 16 December 2016, the Hong Kong Inland Revenue Department published revised guidance on the profits tax consequences of a court-free amalgamation. The guidance covers:
- Amalgamation with sale of assets of the amalgamating company;
- Amalgamation without sale of assets of the amalgamating company, which covers the tax treatment of both the amalgamating and amalgamated companies;
- The utilization of tax losses brought forward, which depends on certain conditions, including:
- The financial resour…