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Hong Kong Tax News Flash 

Dec 2013, Issue 14

Court-free amalgamation under the new Companies Ordinance: An opportunity for internal corporate restructuring

After a prolonged legislative procedure, the new Companies Ordinance (the New CO) was finally enacted into law and will become effective on 3 March 2014. Among the changes to the corporate regulatory framework effected by the New CO, the new court-free amalgamation of wholly owned group companies provides an opportunity for groups to streamline their corporate structure. There are, however, certain Hong Kong and possibly foreign tax issues as a result of an amalgamation that taxpayers need to consider before taking any court-free amalgamation. This News Flash highlights the major changes introduced by the New CO, shares our observations on the potential tax issues arising from an amalgamation, and discusses the possible tax treatments of those issues.

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Reynold Hung
China South and Hong Kong Tax Leader
Hong Kong
Tel: +[852] 2289 3604 Email
Oscar Lau
Hong Kong
Tel: +[852] 2289 5603 Email
Mandy Kwok
Hong Kong
Tel: +[852] 2289 3900 Email