A new chapter for the Unified Funds Exemption (UFE) and Carried Interest in Hong Kong

Sandy Fung, FCCA, Partner, Alternative Investments, Tax, Hong Kong, KPMG China

Sandy Fung is a tax partner in KPMG’s Asset Management group. She has more than 20 years of experience in performing tax structuring and advisory services to alternative investment funds including hedge funds, credit funds, special situation funds, real estate and infrastructure funds, private equity funds, venture capital funds etc. She also has extensive experiences in performing tax due diligence reviews and investment structuring in connection with M&A transactions.

Sandy was an in-house tax advisor for several global Private Equity Funds. She has substantial experiences in implementing the proposed investment, ownership, financing structures and performing restructuring. She has also been focused on advising the potential tax issues that may arise from the Asset Management and the Exit stages.

Sandy provides tax advisory services on investment structures in the Asia Pacific region and cross-border transactions. She advises on all aspects of investment structures, including substance requirements, ownership and holding structures, financing arrangements, debt push down strategies and divestment scenarios. Many of the assignments involve the effective use of double tax treaty and consideration of the potential direct, indirect, withholding taxes, capital and stamp duties etc.

Sandy has extensive experiences in dealing with Hong Kong tax audit cases in fund industries.

Sandy is a Bachelor of the Professional Accountancy in The Chinese University of Hong Kong and a Bachelor of Law in The University of London. She is a member of the of the Hong Kong Institute of Certified Public Accountants (HKICPA), a fellow of UK Association of the Chartered Certified Accountants, a member of The Institute of Taxation in Hong Kong, an Associate of the Chartered Governance Institute UK & Ireland, and an Associate of the Hong Kong Chartered Governance Institute (HKCSI).

Larry Law, Senior Manager, Alternative Investments, Tax, Hong Kong, KPMG China

Larry Law is a tax senior manager in KPMG’s Asset Management group. He has more than 9 years of experience in performing tax structuring and advisory services to different kinds of alternative investment funds. He also has extensive experiences in performing tax due diligence reviews and investment structuring in connection with M&A transactions.

Larry has a wide range of experience in the establishment and structuring of offshore funds, advising on operating protocols for funds, assistance with applying for treaty benefits and advising on the structuring of management fees and carried interest.

Larry holds a bachelor degree in Economics in The Chinese University of Hong Kong. He is also a member of the Hong Kong Institute of Certified Public Accountants (HKICPA).

• The webinar is conducted in Cantonese.
• The webinar is broadcast via ON24.
• Each enrolee will receive an email confirmation including the webinar access link and password after successful registration.
• Enrolee can access the recorded webinar until 30 June 2026.
• Enrolee’s own attendance record can be downloaded in the webinar platform after attending the webinar.
• The series is under ACCA’s Subsidy CPD Scheme. In the Scheme, three percent of seats of our selected CPD events are open on a complimentary and first-come, first-served basis to members who are currently entitled to reduced subscription and retired members on ACCA’s register. ACCA Hong Kong reserves the right to determine which CPD events are included under the Subsidy CPD Scheme. If you are eligible for the Scheme and would like to join the series, please drop us an email to hkinfo@accaglobal.com for enquiries.