HK Cap. 112DF — Exemption from Profits Tax (People’s Bank of China Debt Instrument) Order

Exemption from Profits Tax (People’s Bank of China Debt Instrument) Order ( Cap. 112, section 87 ) (Enacting provision omitted— E.R. 1 of 2019 ) [1 March 2019] 1. (Omitted as spent— E.R. 1 of 2019 ) 2. Interpretation In this Order— PBoC debt instrument ( 中國人民銀行債務票據 ) means a debt instrument issued in Hong Kong by the People’s Bank of China. 3. Exemption (1) A person is exempt from the payment of profits tax chargeable under Part 4 of the Ordinance in respect of sums received by, or accrued to, the person as— (a) interest paid or payable on a PBoC debt instrument; (b) profits on the sale, or other disposal, of a PBoC debt instrument; or (c) profits on the redemption, on maturity or presentment, of a PBoC debt instrument. (2) This section applies in relation to profits tax chargeable for the year of assessment commencing on 1 April 2018 and for all subsequent years of assessment.