Overview of Hong Kong's Tax Exemption Regimes for Funds and Common Tax Issues
It has been the Hong Kong SAR government’s intention to develop Hong Kong into a world-class asset management centre in the region. Preferential tax treatment is one of the incentives to promote this industry. The first offshore fund tax exemption regime was introduced in 2006 to provide profits tax exemption to offshore funds investing into listed securities. The exemption law was extended in mid-2015 to cover certain private equity investments. Following the introduction of the open-ended fund companies (OFC) regime under the Securities and Futures Ordinance, the Inland Revenue (Amendment) No. 2 Ordinance was passed in March 2018 to provide tax exemption for onshore funds. With the rapid development of the asset management industry in Hong Kong and the post BEPS environment, what are the risk areas for fund managers and the investors from a tax perspective?
This seminar will discuss the recent tax developments on the asset management industry in Hong Kong, in particular:-
- Overview of the Hong Kong tax exemption regimes for funds;
- Common tax issues for fund managers and investors;
- Case sharing of common pain points;
- Outlook of the latest tax development for the asset management industry.
Who should attend
Fund managers, asset managers and investors who would like to have a better understanding of the tax issues impacting off-shore funds and onshore funds.
Financial Incentive Scheme of the WAM Pilot Programme
Eligible in-service practitioners of the financial services industry could apply for reimbursement of 80% of the course fees, subject to a maximum of HK$7,000 (whichever is lower) upon satisfactory completion of a course / seminar / conference over the three-year period of the Scheme.
Each individual may apply for reimbursement for more than one course / seminar / conference.
Application to reimburse the course fees, together with the required documents, must be submitted within four months from the last day of the course / seminar / conference attended. Please refer to the WAM Pilot Programme website for more details.