Hong Kong introduces bill on patent-box tax incentive

18 April 2024|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation, Technology, Government & Public Sector|Hong Kong

Pursuant to the announcement in Hong Kong 2024/25 annual budget, a bill has been gazetted to introduce a new patent-box regime in Hong Kong under which qualifying income will be taxed at 5%.
The portion of eligible intellectual property income that will be taxed at the 5% concessionary rate will be determined in a manner that would be consistent with the "nexus approach" in BEPS Action 5 and will also take into account certain expenditures incurred by the previous owner of the intangible asset, i…

Continue reading with a Pro Subscription

Unlock full Orbitax Tax News content, including a historical database of tax news, alerts, and analysis from our network of tax experts, all tailored to your company footprint. Now includes Orbitax XatBot AI Tax Assistant.

Free trial available. Cancel anytime. Free Orbitax account required.