Latest Thinking

The introduction of the carried interest tax concession regime under the Inland Revenue (Amendment) (Tax Concessions for Carried Interest) Ordinance 2021 was a significant milestone for the asset and wealth management industry in Hong Kong*. Such regime provides for profits tax and salaries tax concessions in relation to eligible carried interest received by, or accrued to, qualifying persons and qualifying employees on or after 1 April 2020 from their provision of investment management services to “certified investment funds”. For a recap of the details of the carried interest tax concession regime, please refer to our earlier publications Proposal on Hong Kong's carried interest tax concession regime and Hong Kong fund industry updates: Carried interest tax concession regime and the OFC and REIT Grant Scheme.