November 2017 - IRD’s Practice Note on Taxation of Aircraft Leasing Activities
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Mazars Hong Kong Tax News - November 2017
In order to promote Hong Kong aircraft leasing to capture the opportunity in China, the government introduced new legislation to attract aircraft leasing and management businesses to Hong Kong.
On 27 October 2017, the Inland Revenue Department (“IRD”) issued the Departmental Interpretations and Practice Note No. 54 (“DIPN 54”) – Taxation of Aircraft Leasing Activities on the applications of the new concessionary tax regime for aircraft leasing and aircraft leasing management activities to explain how an aircraft lessor and aircraft leasing manager can obtain the profits tax concessions.
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