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Tax Analysis

Proposal to extend Hong Kong’s offshore fund exemption to private equity: A step in the right direction


H58/2014 – 13 June 2014

In response to the Financial Secretary’s proposal in the 2013/14 Budget to extend the profits tax exemption for offshore funds to cover private equity (PE) funds, the Financial Services Development Council (FSDC) released a synopsis paper (Research Paper No.06) on 18 November 2013 proposing tax exemptions and anti-avoidance measures on PE funds.

In this Tax Analysis, we will discuss the potential tax issues of the proposed rule based on FSDC's recommendations and comment on areas that we think more guidance and clarification should be provided by the HKSAR Government when introducing the new law.

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