11 September 2020
Mr Christopher Hui Ching-yu, JP
Secretary for Financial Services & the Treasury
Financial Services and the Treasury Bureau
24/F, Central Government Offices
2 Tim Mei Avenue, Tamar
Dear Mr Hui
The Hong Kong General Chamber of Commerce welcomes the opportunity to comment on the government’s proposal to provide tax concession for carried interest.
We believe the support for private equity fund activities is important to the growth of Hong Kong’s economy and, as such, the proposed initiative could help attract investments and talents, which would in turn be conducive to the promotion of the SAR’s status as an international asset management hub.
We hope you will find our comments useful.
cc: Financial Services Branch, Financial Services and the Treasury Bureau
Financial Services and the Treasury Bureau’s Proposal to
Provide Tax Concession for Carried Interest
Response by the Hong Kong General Chamber of Commerce (“HKGCC”)
The HKGCC welcomes this opportunity to present its views on the Government’s proposal to provide a tax concession for carried interest. We support the policy initiative as this could attract more private equity funds to and help further strengthen Hong Kong’s status as an international asset management hub. The following sets out our comments to the proposal, as set out in the Bureau’s consultation paper (“CP”) of August 2020.
Definition of “Carried Interest”
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