The Hong Kong Inland Revenue Department has announced the publication of the Inland Revenue (Amendment) (Tax Concessions for Certain Shipping-related Activities) Ordinance 2022 in the Official Gazette on 22 July 2022. The Ordinance amends the Inland Revenue Ordinance (IRO) (Cap. 112) to provide a half-rate profits tax concessions (i.e., an 8.25% tax rate) to qualifying shipping commercial principals, including ship agents, ship managers, and ship brokers. The tax concessions apply to sums received by or accrued to shipping commercial principals on or after 1 April 2022. Further, the profits derived by a qualifying shipping commercial principal from carrying out a qualifying activity for an associated shipping enterprise, which is entitled to a concessionary tax rate or income exemption under the IRO, will also be subject to the same concessionary tax rate or income exemption as those applicable to the associated shipping enterprise. Anti-abuse provisions are also included to safeguard the integrity of the tax system and comply with international tax rules.