carried interest tax concession

Following its proposal to introduce a concessionary tax rate for carried interest earned from Hong Kong private equity funds on January 4 2021 the Hong Kong Government. The Regime operates to provide tax concession at both the salaries tax and profits tax levels.

Webcast Hong Kong Tax Concessions On Carried Interest Sanne Group

Carried interest has been a contentious tax issue in Hong Kong SAR due to the position adopted by the IRD over the last few years.

. Introduction and summary. As part of a longstanding Government policy to attract private equity PE and investment fund operations to Hong Kong the Inland Revenue. The Inland Revenue Amendment Tax Concessions for Carried Interest Ordinance 2021 Ordinance was enacted into law on 7 May 2021 by way of amendment to.

Subsequent to the industry consultation in August last year the Hong Kong Government published on 28 January 2021 the Inland. The tax concession will only be available. To introduce a tax concession for carried interest.

Recently there have been a few exciting developments in the Hong Kong fund industry. The IRDs position in Departmental. The proposal states that the tax concession only applies to carried.

Eligible Carried Interest will be taxed at 0 profits tax rate and all of the Eligible. After six months of consultation the Inland Revenue Amendment Tax Concessions for Carried Interest Bill 2021 Bill providing for a tax concession for a 0. If the carried interest is in a fund as defined in the Unified Tax Exemption 1 that has been validated by the HKMA.

The legislation sets a 0 rate. Received a preferred return at an annual rate of 6 compound interest that would also be considered carried interest. The introduction of the carried interest tax concession regime under the Inland Revenue Amendment Tax Concessions for Carried Interest Ordinance 2021 was a.

In this regard on 16 July 2021 the Hong Kong Monetary Authority HKMA issued a guideline on the certification of funds in relation to carried interest tax concession. In April 2021 the Hong Kong Inland Revenue Department IRD passed the Inland Revenue Amendment Tax Concessions for Carried Interest Bill 2021. This client alert provides an update on the enactment of the carried interest tax.

Hong Kong enacted the Inland Revenue Amendment Tax Concessions for Carried Interest Bill 2021 the New Law on 7 May 20211 The New Law provides a tax regime offering tax. The introduction of the carried interest tax concession regime under the Inland Revenue Amendment Tax Concessions for Carried Interest Ordinance 2021 was a. The Inland Revenue Amendment Tax Concessions for Carried Interest Ordinance 2021 Ordinance was enacted into law on 7 May 2021 by way of amendment to.

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Pwc Mainland China And Hong Kong On Twitter On 4 Jan 2021 The Hksar Legislative Council Panel On Financial Affairs Discussed The Legislative Proposals For The Carriedinterest Tax Concession Regime Including A