tax
Hong Kong vs Singapore: No zero-sum game
Pandemic-related restrictions have dented confidence in Hong Kong as a private equity hub, while Singapore is on a roll. But gains for one don’t necessarily translate into losses for the other
India fintech start-up Clear raises $75m Series C
Indian financial technology start-up Clear, previously known as ClearTax, has raised a $75 million Series C round featuring Kora Capital, Alua Capital, and Think Investments.
Carried interest: Safe in Hong Kong?
Tax treatment of carried interest has been an issue of contention in Hong Kong for several years. Just when it seemed to be resolved, draft implementation guidelines are causing disquiet
Investors question eligibility for HK carried interest tax concession
Fund-of-funds and family offices could be excluded from Hong Kong’s proposed carried interest tax concession, industry participants have warned.
Hong Kong regulation: Carry on
The proposal to place a 0% tax on carried interest has been welcomed in Hong Kong, but PE industry participants are quietly looking to Hong Kong Monetary Authority to ensure balanced execution of the policy
Hong Kong proposes 0% carried interest tax rate
The Hong Kong government has moved to placate private equity industry fears regarding the tax treatment of carried interest by proposing a 0% levy.
Hong Kong reaffirms carried interest pledge
Hong Kong Chief Executive Carrie Lam has reaffirmed the territory’s commitment to providing certainty on the tax treatment of carried interest as part of efforts to consolidate its position as a private equity hub.
Asian GPs favor Singapore after Cayman as fund domicile - survey
Singapore would be the jurisdiction of choice for Asia-based private equity managers if they could no longer domicile their funds in the Cayman Islands, according to a survey by law firm Walkers.
Q&A: Hong Kong Monetary Authority's Anson Law
Hong Kong’s updated limited partnership ordinance came into force this week. Anson Law, a senior manager for market development at Hong Kong Monetary Authority, explains why it’s important for the territory
Hong Kong vs Singapore: Onshore overtures
Hong Kong and Singapore both position themselves as the headquarters of choice for private equity firms in Asia. But the competitive dynamics – from politics to structures – are not straightforward
Lawmakers endorse Hong Kong's fund domicile ambitions
Hong Kong’s updated limited partnership legislation has passed into law, giving private equity and venture capital managers the option of domiciling their funds in the territory.
Hong Kong to introduce carried interest concessions
Hong Kong Financial Secretary Paul Chan (pictured) has promised to have a tax regime for the treatment of carried interest in place within a year, though he stopped short of specifying how big any concessions might be.
Hong Kong seeks to address carried interest concerns
The Hong Kong government has pledged to resolve uncertainty within the private equity industry on the taxation of carried interest as part of efforts to make the territory more attractive to fund managers.
In scope: Asian fund managers and Cayman
Asian private equity firms may start moving their fund management entities away from the Cayman Islands due to new economic substance requirements. Is Hong Kong ready to accept them?
Hong Kong promises better tax deals, fund structures for PE
Hong Kong will consider altering its tax regime to encourage private equity firms to operate in the territory as well as offering more choice on fund structure through the introduction of a new limited partnership regime.
Hong Kong tax: Playing catch-up
Hong Kong is introducing various initiatives intended to encourage private equity firms to bring more of their operations onshore. A failure to act may see Singapore emerge as Asia’s jurisdiction of choice
PE industry cautiously optimistic on Hong Kong tax reforms
Industry participants have praised steps taken by the Hong Kong government to make it easier for private equity firms to operate locally, while cautioning that challenges remain regarding the regulation of managers in the territory.
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.
Hillhouse leads round for Chinese B2B finance platform
Yunzhangfang, a Chinese corporate tax and financial management software-as-a-service (SaaS) provider, has raised RMB300 million ($43.2 million) in a Series C round led by Hillhouse Capital.
Composite Capital leads $50m round for India's ClearTax
Hong Kong-based hedge fund Composite Capital has led a $50 million funding round for Indian online financial services provider ClearTax.
Fund structuring: Change at the margins
While the Cayman Islands remains the go-to jurisdiction for PE firms seeking a domicile for Asia-focused funds, investor demand and regulatory remit mean structures are now more carefully considered
India's goods and services tax: A fair fight
While India’s new goods and services tax regime has caused temporary dislocation, private equity players are confident that their portfolio companies are set for long-term success
Hong Kong tax: Still no certainty
The Financial Services Development Council has criticized Hong Kong's tax exemption for offshore PE funds - and with good reason. It remains to be seen if regulators have the will to respond the group's proposals
Hong Kong advisory body criticizes ineffective PE tax policy
Hong Kong’s tax exemption for offshore private equity funds – introduced with a view to encouraging managers to expand their presence in the territory – has failed to deliver, according to the advisory body that made detailed proposals as to how...