GOP state Rep. Dan Knodl declared victory late tonight in the 8th SD over environmental attorney Jodi Habush Sinykin. But a Senate Dems spokesperson said there’d be no concession tonight with a handful of wards still out.
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Following the enactment last year of the Limited Partnership Fund Ordinance, which has seen strong take up in its first eight months of operation, the new tax concession on carried interest earned from the activities of private equity funds which was proposed by the Hong Kong Government in 2020, has now been introduced. The Inland Revenue (Amendment) (Tax Concessions for Carried Interest) Ordinance 2021 (“
Ordinance”) was enacted into law on 7 May, 2021, by way of amendment to the Inland Revenue Ordinance (“
IRO”). Under this new concession, eligible carried interest received or accrued on or after from 1 April, 2020 will be subject to zero percent profits tax. Individuals who have received carried interest or to whom any such sum has accrued, will also be eligible for a 100% deduction for those sums against their assessable income.
Zero % Tax for Hong Kong s Carried Interest Tax Concession natlawreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from natlawreview.com Daily Mail and Mail on Sunday newspapers.