The Financial Secretary Chan Mo-po, Paul said in the 2017-18 Budget Speech that the Government plans to introduce a bill into the Legislative Council (LegCo) in 2017 to amend the Inland Revenue Ordinance to offer tax concession, as the tax factor is one of the key considerations for aircraft financing companies in selecting the place of domicile for their business.
Chan believes such concession will attract aircraft leasing companies to develop their business in Hong Kong, thereby creating job opportunities for both the financial and aviation industries, and will further consolidate Hong Kong's position as an international financial centre.
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