Executive summary
The Hong Kong Government introduced the Inland Revenue (Amendment) (Ship Leasing Tax Concessions) Bill 2020 (the Bill) on 17 January 2020. The Bill proposes a tax regime offering tax incentives to qualifying ship lessors and qualifying ship leasing managers in Hong Kong.
The provisions of the Bill will apply for income received or accrued on or after 1 April 2020.
This Alert summarizes the key provision of the tax regime.
Detailed discussion
The proposed tax regime provide…