The Government has recently introduced a Bill to establish a dedicated tax regime for promoting aircraft leasing business in Hong Kong, an initiative mentioned in the Chief Executive's Policy Addresses of 2015 and 2016. The concessionary measures are expected to benefit Hong Kong by strengthening its position in the global aircraft leasing business, as well as creating opportunities for the financial and professional services sectors.
According to Boeing's market outlook for the period 2012 to 2032, Chinese Mainland airlines are expected to expand their fleet by nearly 6,000 new aircrafts with an estimated value of around US$780 billion, and accounting for more than 40% of the total deliveries forecasted for the Asia Pacific region. As one of the three largest capital markets in the world, Hong Kong is well positioned to capture opportunities arising from what promises to be a sizeable and lucrative market in aircraft demand and aerospace financing.
The Chamber is pleased to have invited John Timpany and Johnny Lau respectively International Tax Partner with KPMG China and CEO of Astro Aircraft Leasing Co Ltd to share their insights on the opportunities presented through the new tax regime on aircraft leasing. Topics to be covered include: -
• What is being proposed?
• How do the tax incentives work?
• Why invest in aircraft leasing? – experience of HK and Chinese corporates
• What are the likely benefits to the financial and professional sectors?