Hong Kong SAR

New legislation enacted

The following pieces of legislation were enacted in the past 12 months:

• The Inland Revenue (Amendment) (Tax Deductions for Domestic Rents) Ordinance 2022 was gazetted on 30 June 2022 to introduce a tax deduction for domestic rents. The maximum deductible amount is HKD 100,000. The deduction is effective from the year of assessment 2022/23.
• The Revenue (Tax Concessions) Ordinance 2022 was gazetted on 14 April 2022 to give effect to the 100% reduction of salaries tax and tax under personal assessment for the year of assessment 2021/22, subject to a cap of HKD 10,000.