Hong Kong's Inland Revenue Department issued a notice on 8 March 2021 concerning the interim administrative measures accepting fair value accounting for profits tax returns, including the extension of the measure to the filing of the 2018/19, 2019/20, and 2020/21 profits tax returns. --- Profits Tax Return - Fair Value Accounting Subsequent to the judgment of the Court of Final Appeal in Nice Cheer Investment Limited v CIR, the Department has agreed, as an interim administrative measure, to accept 2013/14 to 2017/18 profits tax returns in which the assessable profits are computed on a fair value basis. By the Inland...