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Q2. Determine whether the following income earned by a corporation carrying on retail business in Hong Kong is taxable and briefly explain. Profit on sale

Q2. Determine whether the following income earned by a corporation carrying on retail business in Hong Kong is taxable and briefly explain.

  1. Profit on sale of goods in Hong Kong
  2. Rental income (property located in Shanghai)
  3. Profit on sale of motor vehicle used for the delivery of goods
  4. Dividend income from listed shares
  5. UK Co.s sale profit of machinery to a Hong Kong company

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