PANews, November 28 - According to the Financial Times, Hong Kong plans to exempt private equity funds, hedge funds, and super-rich investment tools from taxes on cryptocurrency, private credit investments, and other asset returns. This week, the Hong Kong government stated in a yet-to-be-released 20-page proposal that taxation is 'one of the main considerations' for asset management companies when deciding on the location of their business, and the Hong Kong government hopes to create a 'favorable environment' for them.
According to the proposal, the Hong Kong government hopes to expand the scope of tax-free investments to include private credit, overseas real estate, and carbon emission allowances. The government is conducting a six-week consultation on the plan.