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Profits tax exemption for offshore funds enacted

|Approved Changes|Hong Kong
Hong Kong

The Hong Kong Legislative Council passed the Revenue (Profits Tax Exemption for Offshore Funds) Bill 2005 on 1 March 2006. The new law will amend the Inland Revenue Ordinance, whereby:

-   an offshore fund entity (which covers individuals, partnerships, corporations and trustees of trust estates) would be exempt from profits tax if it i…

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