Personal Liability of Company Directors on Penalty Tax for Incorrect Profits Tax Returns Filed

There was an appeal case concerning whether an individual is liable for additional penalty tax for signing an incorrect profits tax return for a company in which he/she holds a directorship.

This newsletter provides information as follows:

• Brief background of the case
• The ruling of the case by the Court of Appeal
• What individual directors should be aware of when signing profits tax returns

For further enquiries, please feel free to contact your usual PKF tax executives, or reach out to our Tax Partner Henry Fung (henryfung@pkf-hk.com) or Tax Manager Jeffrey Lau (jeffreylau@pkf-hk.com).