Hong Kong published the Inland Revenue (Amendment) Bill 2015 in the Official Gazette on 20 March 2015. If approved, the bill would amend the Inland Revenue Ordinance in order to extend the profits tax exemption for offshore funds to private equity funds as announced by Hong Kong's Financial Secretary John Tsang earlier in the year.
Currently, the offshore fund tax exemption applies only for certain specified transactions including transactions in securities, futures contracts, foreign exchan…