Hong Kong introduces new tax treatments for insurers upon adoption of a risk-based capital regime

18 July 2023|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation, Insurance|Hong Kong

A new law requires Hong Kong-authorized insurers to adopt a risk-based capital (RBC) regime in relation to the capital adequacy requirement.
New tax treatments are introduced in relation to the adoption of RBC regime
Hong Kong insurers may want to assess the implications on their tax positions, particularly the early RBC regime adopters for their 2022-23 profits tax returns

Executive summary

The Hong Kong "Insurance (Amendment) Ordinance 2023" (the New Law) was gazetted on 14 July 2023. The New Law …

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