Financial Services Tax News Flash

Apr 2017

Bill on the concessionary tax regime for aircraft leasing considered by the Legislative Council

On 26 April 2017, the Bills Committee on Inland Revenue (Amendment) (No. 2) Bill 2017 (the Bill) held its second meeting to discuss the proposed draft legislation that seeks to implement a special tax regime for the aircraft leasing businesses in Hong Kong. During the meeting, representatives from various professional bodies and aviation industry participants generally indicated their support for the HKSAR Government’s move. They also made submissions on the economic impacts of the Bill on the development of aircraft leasing industry in Hong Kong and provided their comments on the technical details of the Bill. The representatives from the Transport and Housing Bureau, the Financial Services and the Treasury Bureau and the Inland Revenue Department (IRD) also attended the meeting and responded to some of the questions raised by the business/profession deputations as well as members of the Legislative Council. 

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