Hong Kong gazettes tax break for fund managers’ bonuses to bolster role as wealth hub

The Hong Kong government gazetted a bill on Friday that, if passed, would waive salary tax on fund managers’ performance-linked bonuses, so long as they meet certain requirements, in a move to introduce further tax reform to strengthen the city as a wealth management centre. The bill, which will be first read by lawmakers on June 24, may attract more fund managers and family offices to operate in the city, the government said. The measure would make Hong Kong the first major Asian financial...