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Nice Cheer – Before and After the Court of Final Appeal Judgment

Event Details:

Speaker : Mr Godwin Ng, Barrister-at-Law

Date : 24 April 2014 (Thursday)

Time : 7:00pm - 9:00pm (Registration starts at 6:30pm)

Venue : Auditorium, 1/F., Duke of Windsor Social Service Building, 15 Hennessy Road, Wanchai, Hong Kong

Language : Cantonese (no simultaneous translation)

CPD Credit : 2 hours

Fee : HK$100-

About the Seminar:

Evaluation gain, which is a notional profit, was finally decided by the Court of Final Appeal (“CFA”) not to be assessable to tax in Hong Kong. The judgment has much been welcomed by many accountants and tax practitioners. Indeed, for a long period of time since 1947 when the Inland Revenue Ordinance was enacted, notional gain is not assessable. Why was it that out of a sudden, the Inland Revenue Department (“IRD”) was so eager to tax notional gain; and then took the trouble to bring the issue to the CFA?

The speaker will discuss the development of the issue leading to the appeal to the CFA.

The speaker will also discuss whether notional loss should be deductible. To answer this question, the speaker will discuss court cases and Board of Review decisions more than 10 years before the Nice Cheer CFA judgment, as well the relevant Departmental Interpretation and Practice Note.

The speaker will give the audience materials to show the history of exemption assessment and exemption again, of notional gain in Hong Kong by IRD. By going through the materials, the speaker will highlight the necessity in reading carefully the official materials of IRD.

About the Speaker:

Mr Godwin Ng, who is a Barrister-at-Law and a Chartered Accountant, holds a Bachelor of Laws degree from University of London and a Master of Business Administration from University of Wales and University of Manchester. He is a tax professional of a total period of over 30 years with the IRD and of professional practice. While he was in IRD, he was with the Appeals Section with substantial experience at the Board of Review for 7 years. He left IRD more than 10 years ago while he was with the Field Audit and Investigation Unit. After departure from civil service, he has been on his own practice as a Barrister-at-Law, with specialisation in revenue law.

CPD Hours:

Completed CPD hours will be granted to attendees who have attended a full session of seminar. For those who have not attended full session, the number of CPD hours will be discounted accordingly. For the exact recognition of the CPD hours, please check with the respective Institute or Association.

Bad Weather Arrangement:

This event may be cancelled or re-scheduled when typhoon no.8 or black rainstorm warning is hoisted. Please refer to our website for the arrangement.


The Institute of Accountants in Management (IAM)


Accounting Development Foundation (ADF)

CPD Requirements: Our seminars can fulfil CPD requirements. As professional bodies would not formally endorse the seminars we provide, it does not mean that the events we organize do not meet the CPD purpose. Registrants should note that you are responsible for determining whether our seminars or any event satisfy your CPD requirements i.e. that the training you receive are of appropriate standard and relevance to your maintaining and enhancing the technical knowledge and professional expertise. If necessary, please check with your respective professional body before registering our seminars. ADF does not warrant that the attendance of our seminars or events would automatically be recognized by the respective professional bodies as fulfilling your CPD requirements.

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