Loan interest income ▸ D7/84 • The sequence in determining the taxability of interest income of an Fl: . Consider s.14(1) first . If not chargeable under s.14(1), then consider s.15(1)(i) 。 Interpretation on s.15(1)(i): • ⋅ • (a) if the place where the funds are made available is a factor in determining source under s.14; and (b) if under s.14 it is decided that the interest is not subject to Hong Kong tax Then the matter must be viewed again under s.15(1)(i) but this time the place where the funds were provided is to be disregarded as a factor in determining the source of the interest 77
Loan interest income ▸ D7/84 • The sequence in determining the taxability of interest income of an Fl: . Consider s.14(1) first . If not chargeable under s.14(1), then consider s.15(1)(i) 。 Interpretation on s.15(1)(i): • ⋅ • (a) if the place where the funds are made available is a factor in determining source under s.14; and (b) if under s.14 it is decided that the interest is not subject to Hong Kong tax Then the matter must be viewed again under s.15(1)(i) but this time the place where the funds were provided is to be disregarded as a factor in determining the source of the interest 77
Chapter11: Investor Losses
Section: Chapter Questions
Problem 26DQ
Related questions
Question
Transcribed Image Text:Loan interest income
▸ D7/84
• The sequence in determining the taxability of interest
income of an Fl:
.
Consider s.14(1) first
.
If not chargeable under s.14(1), then consider s.15(1)(i)
。 Interpretation on s.15(1)(i):
•
⋅
•
(a) if the place where the funds are made available is a factor in
determining source under s.14; and
(b) if under s.14 it is decided that the interest is not subject to
Hong Kong tax
Then the matter must be viewed again under s.15(1)(i) but this
time the place where the funds were provided is to be
disregarded as a factor in determining the source of the interest
77
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