Hong Kong: First advance ruling on ship leasing tax concession
Offers practical insights to taxpayers seeking to eligibility for the concession
The Inland Revenue Department (IRD) published the first advance ruling case (No. 78) on the ship leasing tax concession in Hong Kong since the concession took effect on April 1, 2020.
The IRD granted a favorable ruling to the applicant (i.e., the applicant is a “qualifying ship lessor” eligible for the 0% concessionary tax rate for five years from the 2024-2025 year of assessment).
Read an April 2026 report prepared by the KPMG member firm in Hong Kong that explains why the ruling offers practical insights for taxpayers seeking eligibility for the concession.