Hong Kong passes new tax regime for aircraft; US enacts new security protocols for airlines

After its third reading, the Hong Kong Legislative Council passed the “Inland Revenue (Amendment) (No. 2) Bill 2017” yesterday (June 28, 2017), which includes reductions in profits tax for aircraft leasing companies. The amendment ordinance will soon by gazetted and will take effect shortly. CALC was the first lessor out of the block to commend the decision. CEO Mike Poon described the passing of the bull as “an important first step towards establishing Hong Kong as an international aircraft leasing hub and aviation financing hub”. Poon expects the new tax regime to support the development of Hong Kong’s aircraft leasing