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X Ltd carries on a business in Hong Kong (HK) since 2011.3 years ago, X...

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Accounting

X Ltd carries on a business in Hong Kong (HK) since 2011.3 years ago, X Ltd let a flat in Wanchai (HK) to Mr Chan for 5 years.2 years ago, X Ltd sold the right to receive rent for 1 year to Y Ltd (whichcarries on a business in HK) and received $A.Yesterday, X Ltd sold the flat in Wanchai (HK) with the sitting tenant andreceived $B Is $A taxable for profits tax purposes? Is profit on disposal (i.e. $B cost of flat in Wanchai (HK)) taxable forprofits tax purposes?

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