Hong Kong Inland Revenue has published a government release on the commencement of profits tax concessions for insurance-related businesses on 19 March 2021. --- Profits tax concessions for insurance-related businesses to commence operation on March 19 The Government gazetted today (January 15) subsidiary legislation to implement the new profits tax concessions for insurance-related businesses on March 19, 2021. Enacted in July 2020, the Inland Revenue (Amendment) (Profits Tax Concessions for Insurance-related Businesses) Ordinance 2020 reduces the profits tax rate by 50 per cent (i.e. 8.25 per cent) for all general reinsurance business of direct insurers, selected general insurance business of...