Hong Kong to amend unpopular PE tax exemption
Hong Kong plans to amend the tax exemption for private equity funds, which was introduced in 2015 with a view to making it easier for GPs to operate locally but has been criticized by industry participants as unworkable.
The exemption means that PE firms with funds domiciled offshore no longer have to set up structures designed to avoid triggering permanent establishment in Hong Kong and becoming liable for local tax....
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