12 May 2004
CONSCO TRADING CO LTD v. THE COMMISSIONER OF INLAND REVENUE
- Citation
- CONSCO TRADING CO LTD v. THE COMMISSIONER OF INLAND REVENUE
- Court
- Court of First Instance
- Case number
- HCIA3/2003
The Court affirmed the Board's application of the operations test and concluded on the facts found that the preponderance of the Taxpayer's profit-generating activities occurred in Hong Kong (sourcing, financing, letters of credit, invoicing and receipts), that Beijing Sanjing was an independent contractor (not the Taxpayer's agent) and Mr Wang represented Beijing Sanjing, and therefore the Taxpayer's profits arose in or were derived from Hong Kong; apportionment was not permitted in the stated case and the appeal was dismissed.