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HK Govt Mulls Tax Exemption on Fund Managers' Performance Bonuses to Woo Investment Talent: Wire
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The Hong Kong government is considering exempting fund managers' performance bonuses from tax in order to attract investment talent, Reuters, citing market participants and sources familiar with the plan, reported. Currently, Hong Kong levies tax of up to 17% on performance-based bonuses linked to investment returns. The reform would make Hong Kong the first major financial center in Asia to introduce tax concessions for carried interest, namely profit-sharing linked to investment performance. The move is expected to attract top wealth managers and star investors to establish a presence in the city. A spokesperson for the Financial Services and the Treasury Bureau told Reuters the tax plan aims to reinforce Hong Kong's competitiveness as the premier asset and wealth management center in the region. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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