Executive summaryThe Hong Kong Government introduced the Inland Revenue (Amendment) (Tax Concessions for Carried Interest) Bill 2021 (the Bill) on 28 January 2021. The Bill proposes a tax regime offering tax incentives for eligible carried interest of qualifying persons and qualifying employees. Subject to the passage of the Bill by the Legislative Council, the provisions of the Bill will apply 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 proposed Bill provides that eligible carried interest arising from in-scope transactions received by qualifying recipients for the...