Hong Kong offers tax sweetener to attract PE managers
Market participants see more private equity investment professionals setting up shop in Hong Kong following the extension of a profits tax exemption late last week.
The Hong Kong government has extended the profits tax exemption for offshore funds to private equity funds. The announcement was made on July 17, but is enacted retroactively from April 1.
Hong Kong-based Mandarin Capital CEO Samuel Faveur said the rule change reflected a "more friendly drive” to attract alternative asset managers.
Florence Yip, PwC's private equity tax leader for China and Hong Kong, said that it was “quite possible” that Hong Kong's rule change - first propo…
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