The Hong Kong Inland Revenue Department has announced the publication of the Inland Revenue (Amendment) (Tax Concessions for Certain Shipping-related Activities) Ordinance 2022 in the Official Gazette on 22 July 2022. The Ordinance amends the Inland Revenue Ordinance (IRO) (Cap. 112) to provide a half-rate profits tax concessions (i.e., an 8.25% tax rate) to qualifying shipping commercial principals, including ship agents, ship managers, and ship brokers. The tax concessions apply to sums re…