Industry blasts Hong Kong funds tax proposal

Right policy, wrong idea: Is Hong Kong about to destroy its funds industry?

Hong Kong's future as a regional hub for the funds management industry hangs in balance as the government reviews comments on its proposals to clarify the tax status of offshore funds.

The uncertainty over the tax treatment was highlighted in 2001 when profit tax returns were issued to several of Hong Kong's offshore funds. Although none are believed to have actually paid the tax - and the government has stated its intention to clarify the law to exempt offshore funds - the ensuing uncertainty has encouraged several new funds to locate their operations in Singapore.

We warmly welcome the government's intention to encourage the development of the fund management industry in...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222