February 2019 - Inland Revenue (Profits Tax Exemption for Funds) Amendment Bill 2018

The Government published in the Gazette on December 7 the Inland Revenue (Profits Tax Exemption for Funds) (Amendment) Bill 2018 to provide profits tax exemption for eligible funds operating in Hong Kong. The main objective of the Bill is to address the concerns of the Council of the European Union over the ring-fencing features1 of Hong Kong’s tax regimes for privately offered offshore funds and enhance the competitiveness of our tax regimes by creating a level playing field for all funds operating in Hong Kong.