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Legal Update

Constant Vigilance – Two Recent Tax Decisions

19 April 2013
Mayer Brown Legal Update

The courts have recently handed down two separate tax decisions, both highlighting the need for vigilance from the taxpayer when managing its tax affairs. First, the Court of Appeal (CA) has granted leave to the liquidators of Moulin Global Eyecare Trading Limited (Moulin) to have their appeal determined by the Court of Final Appeal (CFA). This provides an opportunity for Hong Kong’s highest court to determine whether the primary or special rules of attribution should apply to attribute knowledge of fraudulent directors to the company. The second case involves Mr. Chan Chun Chuen (Mr. Chan), the erstwhile Fung Shui Master. The District Court has granted summary judgment against Mr. Chan in respect of more than HK$340 million of tax together with interest assessed at judgment rate (8 percent).

For inquiries related to this Legal Update, please contact Susanne Harris or your usual contacts with our firm.

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