Hong Kong Tax Newsflash

The Ordinance¹ which seeks to provide new tax deductions for spectrum utilization fees (SUFs) is gazetted today. The tax deduction of SUFs will be allowed by spreading over the spectrum assignment term (generally 15 years). The new deduction would apply to SUFs to be paid by the future assignees in respect of radio spectrum with effect from 19 January 2024.

For the background and details of the tax deductions for SUFs, please refer to our Hong Kong Tax Newsflash Issue 201.

¹ Inland Revenue (Amendment) (Tax Deductions for Spectrum Utilization Fees) Ordinance 2024

^{Tax Newsflash is published for the clients and professionals of Deloitte Touche Tohmatsu. The contents are of a general nature only. Readers are advised to consult their tax advisors before acting on any information contained in this newsletter.}
 

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Authors

Kiwi Fung
Tax Manager
+852 2258 6162
kifung@deloitte.com.hk

Global Business Tax Services