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Hong Kong: New Tax Concessions for Qualifying Shipping Commercial Principals

The Hong Kong government promulgated the Inland Revenue (Amendment) (Tax Concessions for Certain Shipping-related Activities) Ordinance 2022 (“the Ordinance”) on 22 July 2022, which offers tax incentives to qualifying shipping commercial principals. Under the new concessionary regime, ship agents, ship managers and ship brokers will be entitled to half-rate profits tax concessions (i.e., at 8.25 […]