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Hong Kong

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Hong Kong Gazettes Draft Inland Revenue (Amendment) Bill 2018 to Expand Scope of IP Rights Expenditure Eligible for Deduction

On 23 March 2018, Hong Kong gazetted the Inland Revenue (Amendment) (No. 2) Bill 2018, which expands the scope of profits tax deductions for capital expenditure incurred for the purchase of intellectual property (IP) rights from the existing five types to eight. The additional three types of IP rights include rights in layout design (topography) of integrated circuits, plant varieties, and performances. The five types of IP rights that are currently eligible for tax deductions are patents, know-how, copyright, registered designs, and registered trademarks.

According to a government release announcing the bill, it will be introduced into the Legislative Council for approval on 11 April 2018.

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