Hong Kong’s Inland Revenue
Department has issued a Departmental Interpretation and Practice Note (number
51) regarding profits tax exemption for offshore funds.
The original legislation was the Revenue
(Profits Tax Exemption for Offshore Funds) Ordinance of 2006, which provided a
profits tax exemption, while the Inland Revenue (Amendment) (No. 2) Ordinance of
2015 was enacted to extend this exemption to offshore private equity
funds. The Practice Note sets out the IRD’s
interpretation and practice in relation to the 2015 Ordinance.
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Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email
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