The Hong Kong Inland Revenue Department (IRD) has announced the publication of the Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Ordinance 2024 in the Official Gazette on 5 July 2024, which provides for the introduction of a patent box regime with a concessionary tax rate of 5% for qualifying intellectual property income. The IRD has also published a copy of the Amendment Ordinance as well as guidance for the regime, covering the tax concession, the requirements, the application of the nexus approach, and other matters. --- Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Ordinance 2024 gazetted...