Cap. 112 sub. leg. DF

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.