The Hong Kong Inland Revenue Department has announced the release of the guideline on the required auditor's report when applying for fund certification for the carried interest tax concession. The carried interest tax concession includes profits tax and salaries tax concessions in relation to eligible carried interest received by, or accrued to, qualifying persons and qualifying employees on or after 1 April 2020 from their provision of investment management services for certain funds and entities. Further, a circular has been issued to provide guidance to practitioners in preparing an auditor's report. The latest guideline and circular follow the guideline on...