OrbitaxHong Kong Enacts Interest Deduction Rules for Intra-Group Financing and Concessionary Profits Tax Rate for Corporate Treasury Centers
|Approved Changes|Hong Kong
On 3 June 2016, Hong Kong published the Inland Revenue (Amendment) (No. 2) Ordinance 2016 in the Official Gazette. According to the press release from the Inland Revenue Department, the Ordinance enables, under specified conditions, the deduction of interest payable on money borrowed by a corporation carrying on in Hong Kong an intra-group financing business. It further provides for a concessi…
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