The Hong Kong Inland Revenue Department has announced the publication of the Inland Revenue (Profits Tax Exemption for Funds) (Amendment) Bill 2018, which will be introduced in the Legislative Council on 12 December 2018. The Bill provides for the extension of the profit tax exemption for offshore privately offered funds to onshore funds in order to resolve ring-fencing issues and avoid being listed as a non-cooperative jurisdiction by the EU.
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The Government published in the Gazette to…