Hong Kong’s Financial Services and the Treasury Bureau confirmed on August 12 that proprietary trading firms like Jane Street and Citadel Securities will not qualify for the proposed 0% tax rate on carried interest, as they do not meet the legal definition of an investment fund. This announcement is part of broader legislation extending Hong Kong’s preferential tax regime beyond private equity to fund managers and family offices. The city is competing aggressively with Singapore and Dubai to attract global asset managers. The second reading of the bill in the Legislative Council is expected later this year.
Source: Read the original article
