Hong Kong proposes tax break on fund manager bonuses to boost wealth hub status

In parallel developments aimed at attracting capital, India has exempted foreign investors from its 12.5% capital gains tax. This policy change is designed to encourage foreign capital inflows, particularly as the country navigates external economic vulnerabilities. The Reserve Bank of India has also implemented measures to support these foreign investments.

Separately, Hong Kong's government reported savings of HK$69 million within the first month following a revision of its public transport subsidy scheme. The adjustments, which took effect on April 3, aimed to curb the use of expensive long-haul routes for short-distance travel by elderly and disabled commuters, thereby optimizing resource allocation.

Furthermore, a new travel permit for non-Chinese residents in Hong Kong is facilitating easier and quicker weekend excursions to mainland China. Popular destinations like Shenzhen's ski resorts and water parks have become more accessible. However, the implementation has faced minor hurdles, with some immigration staff reportedly not yet recognizing the permit, causing occasional delays or confusion for travelers.