Personal Data Protection
A further conviction has been handed down (end-December
2015) for breaches of the direct marketing provisions under the Hong Kong
Personal Data (Privacy) Ordinance (PDPO), following the first three such
convictions in previous months. Although the fine was nominal (at HK$5,000) and
although one of the accused was convicted, the case was significant in that it
was the first conviction against an individual for unauthorised transfer of personal data to a third party
for use in direct marketing.
Taxation – Group Loss Relief?
The Hong Kong Inland Revenue Department (IRD) has issued a
guidance note about the tax treatment of profits in a court-free amalgamation,
a procedure introduced by the new Companies Ordinance which became effective in
2014. No amendments have yet been made to the corresponding (Inland Revenue)
ordinance to cover this, and nor has Hong Kong historically given group relief
for losses. The guidance note goes some way to removing the uncertainties this
situation has produced.
In (very) brief, losses in a company may be carried forward
into the merged or amalgamated entity provided that the IRD are satisfied that
the intention behind the amalgamation is not to obtain the loss relief.
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Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email
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Primasia Corporate Services Limited
Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong
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