ASIA REGULATORY ROUND UP – HONG KONG BUDGET INCLUDES TAX CUTS
February 1st, 2016
The Hong Kong government has announced its 2016 budget which includes a salaries tax reduction of up to HKD20,000 (USD2,574), increasing personal allowances and offering a rates waiver within its 2016-17 budget. The government has also announced a 75% profits tax reduction up to a ceiling of HKD20,000; waived business registration fees; and released a technology voucher programme assisting small-and-medium sized businesses.
The government has also increased tax allowances for maintaining a dependent parent or grandparent aged 60 or above from HKD40,000 ...
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