A revised version of the Inland Revenue Ordinance was recently published on Hong Kong e-Legislation, the official journal of the city. The new version contains the changes made by the Inland Revenue (Amendment) (Disposal Gain by Holder of Qualifying Equity Interests) Bill 2023 which provides for a tax exemption on gains from the sale of equity interest in Hong Kong enterprises provided that
– the equity interest has been held for at least 24 months; and
– the sold shares represent at least 15% of the total equity interests in the company being sold.
Accordingly, the following parts have been added anew:
1. Part 6F – Disposal Gain by Holder of Qualifying Equity Interests
2. Schedule 17K – Disposal Gain by Holder of Qualifying Equity Interests
Inland Revenue Ordinance (Cap. 112) (Version Date: 15/12/2023)
ID
26512
Other Features
companies
investors
limit
securities
shareholders
taxation
transparency
Date Published: 2023-12-22
Date Taking Effect: 2023-12-15
Regulatory Framework: Inland Revenue Ordinance
Regulatory Type: law
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