(Bloomberg) Hedge funds may be the biggest losers from a new 3 percent tax on some investment returns in China.
The new value-added levy, which will take effect on Jan. 1, is part of a broader shift in how companies pay tax in the world’s second-biggest economy. While there are still uncertainties around how the tariff will be implemented, what’s known about the type of activities to be taxed suggests that hedge funds may be the asset managers hit the hardest, said Natalie Yu, a Beijing-based partner with Deloitte LLP. “The whole industry will be affected, but hedge funds may face a bigger impact,” said Yu.
China’s New Tax May Hit Hedge Funds More Than Investment Rivals
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