Executive summary
On 15 June 2022, the Inland Revenue (Amendment) (Tax Concessions for Certain Shipping-related Activities) Bill 2022 was submitted to Hong Kong’s Legislative Council. The bill introduces a dedicated tax concession regime offering tax incentives to qualifying shipping commercial principals (i.e., ship agents, ship managers and ship brokers) in Hong Kong.
This Alert summarizes the key provisions of the tax regime.
Detailed discussion
Subject to certain anti-avoidance provisions, the p…