Executive summaryThe Hong Kong Government introduced the Inland Revenue (Amendment) (Ship Leasing Tax Concessions) Bill 2020 (the Bill) on 17 January 2020. The Bill proposes a tax regime offering tax incentives to qualifying ship lessors and qualifying ship leasing managers in Hong Kong.The provisions of the Bill will apply for income received or accrued on or after 1 April 2020.This Alert summarizes the key provision of the tax regime.Detailed discussionThe proposed tax regime provides:1. The tax rate on the qualifying profits of qualifying ship lessors derived from a qualifying ship leasing activity will be 0%.A corporation is deemed a “qualifying ship lessor”...