Hong Kong Tax Agency Updates Lists of Qualifying Debt Instruments Eligible for Preferential Tax Treatment

The Hong Kong Inland Revenue Department Aug. 19 updated the lists of qualifying debt instruments eligible for preferential profits tax treatment, current as of June 30. The updated lists include that: 1) short- and medium-term debt instruments issued before April 1, 2018, are eligible for a 50 percent profit tax reduction; 2) long-term debt instruments issued before April 1, 2018, are eligible for a profit tax exemption from the 2003-2004 year of assessment; and 3) debt instruments issued on or after April 1, 2018, are eligible for a profit tax exemption from the 2018-2019 year of assessment. [Hong Kong, Inland ...