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Hong Kong Passes Inland Revenue (Amendment) Bill 2015 including Tax Exemption for Offshore Private Equity Funds

|Approved Changes|Hong Kong
Hong Kong

The Inland Revenue (Amendment) Bill 2015 was reportedly passed by the Hong Kong Legislative Council on 13 July 2015.

The main measure of the legislation is extending the tax exemption provided for offshore funds to also cover transactions involving shares in private companies incorporated outside Hong Kong. Currently, the offshore fund tax exemption applies only for certain specified transactions including transactions in securities, futures contracts, foreign exchange contracts, etc., but …

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