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Hong Kong aims to boost captive market with new legislation

March 21, 2014 - 6:00am

The Legislative Council of Hong Kong has passed a bill to revise the Inland Revenue Ordinance to provide captive insurers a 50% concession on profits tax for their offshore risk business, Tax-News reported.

K C Chan, secretary for Financial Services and the Treasury, said "Hong Kong is well positioned to establish itself as a domicile of captive insurance."

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