Concession for captive insurers passed

Concession for captive insurers passed

Hong Kong Tax Alert - Issue 5, March 2014  

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Concession for captive insurers passed

On the 19 March 2014 the Inland Revenue (Amendment) Bill 2013 was passed by the Legislative Council. Captive insurers will enjoy a 50 percent reduction in the profits tax on their insurance business of offshore risks.

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