The Hong Kong Inland Revenue Department has announced the approval of the Inland Revenue (Amendment) (Disposal Gain by Holder of Qualifying Equity Interests) Bill 2023 by the Legislative Council on 6 December 2023. The legislation introduces a tax certainty enhancement scheme to provide greater certainty of the non-taxation of onshore gains on the disposal of equity interests that are of a capital nature. Subject to certain conditions, the scheme essentially provides that gains made by an in…