Clifford Chance
Inland Revenue (Amendment) (No. 2) Ordinance 2015 to Extend Profits Tax Exemption for Offshore Funds to Private Equity Funds Gazetted
20 July 2015
The Inland Revenue (Amendment) (No. 2) Ordinance 2015 (Amendment Ordinance) to extend the profits tax exemption to offshore private equity (PE) funds was gazetted on 17 July 2015 and came into operation on the same day. The tax extended exemption is seen as a positive move by the Hong Kong Government to make it more attractive for PE funds to set up and expand their business operating in Hong Kong.
