Executive summaryHong Kong enacted the Inland Revenue (Amendment) (Tax Concessions for Carried Interest) Bill 2021 (the New Law) on 7 May 2021.1 The New Law provides a tax regime offering tax incentives for eligible carried interest of qualifying persons and qualifying employees. The New Law applies to eligible carried interest received or accrued on or after 1 April 2020.This Alert summarizes the key provisions of the tax regime.Detailed discussionThe New Law provides that eligible carried interest arising from in-scope transactions received by qualifying recipients for the provision of investment management services to qualifying payers is not subject to tax in Hong...