Hong Kong lowers patent tax rate to 5%, establishes a Technology & Innovation Support Center, and updates Copyright Ordinance for AI progress.
Hong Kong plans to lower the tax rate on patent-related profits from 16.5% to 5%, establish a Technology & Innovation Support Center for the World Intellectual Property Organization, and update its Copyright Ordinance to accommodate AI advancements, as part of efforts to foster intellectual property management, commodification, and trade. This will help Hong Kong flourish in high-value, innovation and technology sectors.
April 07, 2024
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