Executive summary
Hong Kong enacted the Inland Revenue (Amendment) (Miscellaneous Provisions) Bill 2021 (the New Law) on 11 June 2021,1 which addresses the tax implications of court-free amalgamations of companies.2 The New Law applies to court-free amalgamation of companies occurring on or after 11 June 2021.
This Alert summarizes the key provisions of the New Law.
Detailed discussion
The key provisions of the tax treatment are:
Succession of trading stock
If trading stock succeeded from an…