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Recent Searches
There are a number of recent tax law developments in the Asia-Pacific region which may be of interest to clients as they impact the funds industry.
For example, in Hong Kong, the Inland Revenue (Amendment) (Tax Concessions for Carried Interest) Ordinance 2021 has been gazetted into law on 7 May 2021 which provides profits tax and salary tax exemption for eligible carried interest satisfying the eligibility conditions and the prescribed compliance requirements. The Hong Kong Monetary Authority (HKMA) has also issued the final guideline on the certification of funds and the application forms on 16 July 2021 after considering comments collated from the industry.
In Australia, there are several updates in relation to the Australian Budget for 2021/22 released in May 2021. There are also some other interesting developments in India and New Zealand.
This publication covers the most relevant tax news and the Top 10 tax topics for clients doing Private Equity business in the Asia-Pacific region for this quarter.
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