Home / Knowledge / News / Apparel/Garments / Li & Fung welcomes Court of Appeal's judgment
Li & Fung welcomes Court of Appeal's judgment
20
Mar '12
Hong Kong-based Li & Fung Limited, the multinational consumer goods export and logistics group, welcomed the Court of Appeal's judgment in favor of its subsidiary, Li & Fung (Trading) Limited (LFT). The Court of Appeal has upheld the judgment of the Court of First Instance on LFT's Offshore Claim and has dismissed the appeal by the Hong Kong Inland Revenue (“HKIR”).

“We are very pleased that the Court of Appeal has upheld the judgment of the Court of First Instance and confirmed that we should not pay Hong Kong tax on profits earned offshore,” said Mr. William K Fung, Executive Deputy Chairman of Li & Fung Limited.

The Group has learnt the Court of Appeal's judgment in relation to the tax dispute between LFT and the HKIR, the details of which have been disclosed in Li & Fung's 2011 interim report.

Li & Fung Limited, the Hong Kong-headquartered multinational group, is recognized as the world's leader in consumer goods design, development, sourcing and distribution.

Li & Fung Limited

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Information Technology | On 25th Apr 2017

Self-repairing fabrics to be the future of fashion

It is the era of smart. Intelligent materials like self-repairing...

Textiles | On 25th Apr 2017

Indonesia revitalising textile sector

With exports of textile and textile products rising in Indonesia, the ...

Interviews View All

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search