The Hong Kong Inland Revenue Department recently published new guidance, Profits Tax - What you need to know as a Ship Operator. The guidance covers various areas for ship operators, including the following specific areas: --- Ship operators chargeable to Hong Kong Profits Tax Profits derived by a ship operator from carrying on a business of operating ships would be assessed in accordance with the provisions in section 23B of the Inland Revenue Ordinance (IRO) if: the business is normally controlled or managed in Hong Kong; or the ship operator is a company incorporated in Hong Kong (i.e. Hong Kong...