22 Jul 1988
COMMISSIONER OF INLAND REVENUE v. MESSRS. LAU WONG & WONG & CHAN SOLICITORS
- Citation
- COMMISSIONER OF INLAND REVENUE v. MESSRS. LAU WONG & WONG & CHAN SOLICITORS
- Court
- Court of First Instance
- Case number
- HCIA2/1988
Where a solicitor firm is entitled to interest on client funds by agreement forming part of the retainer, that interest is received in consideration of professional services and therefore constitutes profits 'arising in or derived from' the profession under s.14 of the Inland Revenue Ordinance and is assessable; UK cases on 'immediately derived' earned income are distinguishable and s.15 is not exhaustive.