New Private Equity Fund Tax Exemption
KPMG (China)
Tue 29 Sep 16:00
Join us for an in depth discussion of the New Private Equity Fund Tax Exemption passed in July by the Hong Kong Legislative Council.
Hong Kong’s position as Asia’s leading hub for Private Equity (PE) should be given a significant boost by the exemption, with the new rules designed to exempt offshore PE funds from tax in Hong Kong in respect of investments made outside of Hong Kong.
The changes are also contain an exciting development to promote the use of Hong Kong companies as an investment holding platform. Special Purpose Vehicles (SPVs) established in Hong Kong to hold offshore investments are now exempt from tax in Hong Kong on the investment returns made by a PE fund. This is something which the industry has been seeking for some time, and the proposed changes are likely to be wider reaching than an equivalent exemption which applies in Singapore.
John Timpany of KPMG will discuss the legislative changes in full, considering practical implications such as identifying qualifying funds, reviewing operational protocols to ensure compliance, updating transfer pricing documents and revisiting existing fund structures to determine whether there is scope to amend and simplify those structures.
Event kindly hosted by:
Speakers
John Timpany
Partner, KPMG China
John has over 18 years of experience in KPMG’s tax practices in Hong Kong and New Zealand. John’s work involves providing the full range of tax assistance and advice to multinational companies across the Asia Pacific region and beyond. A number of John’s clients use Hong Kong as the location for their ASPAC regional head office and John advises these organisations on managing their tax affairs regionally. This regularly entails the leadership of regional client teams for specific projects and the provision of tax advisory and compliance support.
His role involves advising on issues relevant to the establishment of investment holding and operating structures for companies operating in a diverse range of industries and countries. He has extensive international merger and acquisition experience. He has also played a major role in the provision of tax advice on due diligence, contract negotiation, transaction restructuring and financing engagements.
John is experienced in advising clients from a wide variety of industries, including telecommunications, transportation, healthcare, insurance, banking and funds management and real estate.
Venue
KPMG (China)
KPMG in China employs around 9,000 people and operates in 16 cities across the country.
KPMG's Global China Practice (GCP) was established to assist Chinese businesses that plan to go global, and multinational companies that aim to enter or expand into the China market.
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