EYEY

Hong Kong passes bill on patent-box tax incentive

|Tax Alerts, Legislation & Policy, Na ...|Hong Kong
Hong Kong

  • On 26 June 2024, the Hong Kong legislative council passed the bill to introduce a new patent-box regime in Hong Kong under which qualifying income will be taxed at 5%.
  • The portion of eligible intellectual property (IP) income that will be taxed at the 5% concessionary rate will be determined in a manner that would be consistent with the "nexus approach" in BEPS Action 5 and will also take into acco…

Continue Reading