Financial Services Tax News Flash

May 2017

The Hong Kong SAR Government has proposed to introduce Committee Stage Amendments to extend the concessionary tax regime to onshore aircraft leasing activities

On 22 May 2017, the Bills Committee on the Inland Revenue (Amendment) (No.2) Bill 2017 (the Bill) was scheduled to further debate the concessionary tax regime for the aircraft financing and leasing businesses (the concessionary tax regime) in Hong Kong. The aircraft leasing industry would be interested to know that the Government has proposed to introduce Committee Stage Amendments ("CSAs") to the Bill to extend the concessionary tax regime to onshore aircraft leasing activities in response to the latest requirement of the Organisation for Economic Co-operation and Developments ("OECD") in relation to harmful tax practices; and the submissions from the deputations. 

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