The Hong Kong Inland Revenue Department has announced the publication of the draft Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Bill, which provides for the introduction of a patent box regime with a concessionary tax rate of 5% for qualifying intellectual property income. --- Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Bill 2024 gazetted The Government published the Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Bill 2024 in the Gazette today (March 28) to implement the "patent box" tax incentive, thereby encouraging enterprises to forge ahead with more research and development (R&D) activities and...