Assuming that the office is sold at $7,000,000 after BCC Ltd has moved out. Discuss the factors which need to be considered in determining whether Mr. Lee will likely be subject to profits tax in Hong Kong in respect of the disposal gain from the sale of office with reference to the relevant tax principles and prevailing practice of the Inland Revenue Department.

Answer rating: 100% (QA)

As per the Inland Revenue Department Hong Kong adopts a territorial source Princip... View the full answer