June 2020 - Revised DIPN 39 on digital economy, electronic commerce and digital assets

There is a rapid development in the digital economy and e-commerce in the last few years, such that the previous position of the Inland Revenue Department (“IRD”), noted in the previous version of Departmental Interpretation and Practice Notes (“DIPN”) No 39 needs to be updated. On 27 March 2020, the IRD published a revised version of DIPN 39 (“Revised DIPN 39”) addressing various key issues concerning taxation of e-commerce transactions and digital assets.

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