Judicial Committee of the Privy Council.

Judgment delivered 10 May 1984.

Profits tax – Hong Kong – Computation of profits – Provision for future retirement benefits – Whether provision deductible as expense incurred in the production of taxable profits – Inland Revenue Ordinance (Hong Kong) 1956, sec. 16.

  This was an appeal by the Commissioner of Inland Revenue against a decision of the Court of Appeal of Hong Kong that sums carried to reserve to answer future retirement payments for staff were expenses incurred in the production of profits.

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