25 January 2016 Hong Kong's Inland Revenue Department provides interim tax treatment on court-free company amalgamations Hong Kong's Inland Revenue Department (IRD) recently announced that it is considering enacting specific legislation to address court-free amalgamations. In the interim, when the IRD is satisfied that a court-free amalgamation, not involving a sale of assets, is not carried out for the purpose of obtaining tax benefits, the surviving entity will generally be treated as the continuation of the amalgamating company that ceased to exist as a separate legal entity. A Tax Alert prepared by Ernst & Young's Hong Kong Tax Desk in New York, and attached below, provides additional details. Document ID: 2016-0169 |
