Hong Kong's Inland Revenue Department issued a notice on 8 March 2021 concerning the interim administrative measures accepting fair value accounting for profits tax returns, including the extension of the measure to the filing of the 2018/19, 2019/20, and 2020/21 profits tax returns.
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Profits Tax Return - Fair Value Accounting
Subsequent to the judgment of the Court of Final Appeal in Nice Cheer Investment Limited v CIR, the Department has agreed, as an interim administrative measure, …