ChinaAMC gets landmark RQFII tax exemption
One of China's biggest asset managers has obtained an exemption in Hong Kong from 10% capital gains tax on its flagship RQFII ETF. But mainland authorities have not yet given the go-ahead.
.jpg&c=1&h=677&q=100&v=20245031&w=1204)
China Asset Management has become the first mainland fund house to gain an exemption in Hong Kong from a 10% capital gains tax (CGT) on an RQFII fund.
As a result it will not set aside money to cover the potential levy for the product in question. This sets a precedent that other firms are likely to follow.
The firm received a Hong Kong Tax Resident Certificate for the Rmb8.4 billion ($1.39 billion) ChinaAMC CSI300 Index ETF in late October, paving the way for it to use the Hong…
Please sign in or register
for free access to 1 article per month from AsianInvestor’s content and archives of over 16,000 articles.
¬ Haymarket Media Limited. All rights reserved.