Hong Kong races to match Singapore’s tax break to lure global fund managers
Singapore’s new tax exemption for fund managers has prompted Hong Kong financial analysts to urge the city to accelerate its own tax break to boost its competitiveness as a financial hub.
Hong Kong is racing to match Singapore's tax break proposal to attract global fund managers, according to a report by VnExpress Business. The Singapore government announced a package of measures, including a tax exemption for investment profits earned by managers of single-family offices and other qualifying funds. Following this move, Hong Kong analysts are urging the city to move forward with its proposed tax break on carried interest, the performance fees earned by hedge fund and private equity managers.
Jasmine Lee Shun-yi, vice-president of Hong Kong Institute of Certified Public Accountants, emphasized the importance of the tax break for Hong Kong to further increase its competitiveness and attract global fund managers to establish their businesses in the city.
Brief written by urgent.news from VnExpress Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
