ChainCatcher News reports that according to the Hong Kong Government’s press release, Financial Secretary Paul Chan announced in his budget speech that to further attract family offices and funds to Hong Kong, the tax system will be optimized. Digital assets, precious metals, and other assets will be classified as eligible investments for tax concessions, with plans to implement this starting from the 2025/2026 tax year.
Additionally, over the next two years, Hong Kong will implement the OECD’s crypto asset reporting framework and the revised Common Reporting Standard (CRS) to enhance international tax transparency and combat cross-border tax evasion. The government expects to submit the draft amendments to the Inland Revenue Ordinance in the first half of the year. Paul Chan also stated that the Hong Kong government will continue issuing tokenized bonds regularly, and within this year, a digital asset platform will be established to support the issuance and settlement of digital bonds. The platform will gradually expand to include other digital assets and connect with other tokenization platforms within the region.
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