The trading activities of charities could fall within the tax net
On 27 January 2010, the Court of First Instance (CFI) handed down its judgment on the Church Body of the Hong Kong Sheng Kung Hui and Hong Kong Sheng Kung Hui Foundation (SKH) v The Commissioner of Inland Revenue (CIR). It confirmed the decision of the Board of Review (BOR) that the profits the SKH derived from a residential development project were taxable.