(Bloomberg) Hong Kong has proposed widening tax breaks to include hedge and private equity funds that are domiciled in the city in a move market watchers say should encourage more of them to move there.Locally domiciled vehicles that can only be sold to qualified institutions and wealthy individuals — such as hedge and private equity funds — will be eligible for an exemption from a 16.5 percent profits tax for the first time, according to a council brief posted on the website of the city’s legislature. Lawmakers are scheduled to have a first reading of the bill Wednesday, and the government has recommended the change take effect on April 1.
Hong Kong Bill May Hand Tax Exemptions to Local Hedge Funds
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