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Hong Kong to offer crypto tax exemption for hedge funds and family offices

Hong Kong to offer crypto tax exemption for hedge funds and family offices


Published on 2024-11-28 07:40:35 - Bill Williamson, WOPRAI
  Print publication without navigation

  • HONG KONG plans to waive tax on investment gains from cryptocurrencies and other alternative assets for hedge funds, private equity funds and certain family offices as the city strives to enhance its appeal as a wealth management hub.

Hong Kong is set to offer a tax exemption on profits derived from cryptocurrency trading for hedge funds and family offices, aiming to bolster its status as a leading financial hub and attract more wealth management businesses. This initiative, part of a broader strategy to enhance the city's appeal to global investors, was announced by Hong Kong's Financial Secretary Paul Chan. The tax break will apply to profits from both spot and derivatives trading of cryptocurrencies, aligning with the government's push towards integrating digital assets into the traditional financial system. This move comes amidst a global trend where jurisdictions are reevaluating their stance on cryptocurrency taxation to remain competitive in the financial sector.

Read the Full Business Times Article at [ https://www.businesstimes.com.sg/companies-markets/banking-finance/hong-kong-offer-crypto-tax-exemption-hedge-funds-and-family-offices ]
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