The Double Taxation Relief (Shipping Transport) (Hong Kong) Order 2000
Under the Agreement with the Government of the Hong Kong Special Administrative Region of the People’s Republic of China scheduled to this Order, profits derived from the business of international shipping transport by an enterprise of the United Kingdom or of the Hong Kong Special Administrative Region shall be exempt from tax in the area of the other Contracting Party. This exemption also applies to profits derived from participation in a pool, joint business or international operating agency, to gains derived from the alienation of ships or moveable property, and to capital represented by such ships and moveable property.