Foreign media: Hong Kong plans to offer cryptocurrency tax reductions for hedge funds and super-rich families
On November 28, according to the Financial Times, Hong Kong plans to exempt private equity funds, hedge funds and investment tools of super-rich from taxes on cryptocurrency earnings, private credit investments and other assets. This week, the Hong Kong government stated in a yet-to-be-published proposal that spans 20 pages that tax is "one of the main considerations" for asset management companies when deciding where to locate their business. The Hong Kong government hopes to create a "favorable environment" for them.
According to this proposal, the Hong Kong government hopes to expand the scope of tax-exempt investments by including private loans, overseas real estate and carbon emission quotas. The government is currently conducting six weeks of consultations on this plan.
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