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Hong Kong introduces new tax treatments for insurers upon adoption of a risk-based capital regime

|Tax Alerts, Information Reporting, Legis ...|Hong Kong
Hong Kong

  • A new law requires Hong Kong-authorized insurers to adopt a risk-based capital (RBC) regime in relation to the capital adequacy requirement.
  • New tax treatments are introduced in relation to the adoption of RBC regime
  • Hong Kong insurers may want to assess the implications on their tax positions, particularly the early RBC regime adopters for their 2022-23 profits tax returns

Executive summary

The Hong Kong "Insurance (Amendment) Ordinance 2023" (the New Law) was gazetted on 14 July 2023. The New Law …

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