PANews reported on November 28 that according to the Financial Times, Hong Kong plans to exempt private equity funds, hedge funds and investment vehicles of the super-rich from tax on gains from cryptocurrencies, private credit investments and other assets. This week, the Hong Kong government stated in a 20-page proposal that has not yet been released that taxation is "one of the main considerations" for asset management companies when deciding where to do business, and the Hong Kong government hopes to create a "favorable environment" for them.
Under the proposal, which is in the midst of a six-week consultation process, the Hong Kong government wants to expand tax-free investments to include private credit, overseas real estate and carbon emissions credits.
