HONG KONG BUDGET INCLUDES SIGNIFICANT PROFIT AND SALARY TAX CUTS
March 1st, 2018
THE HONG Kong financial secretary has proposed a 75% reduction of profits tax, salaries tax and tax under personal assessment for the 2017-18 assessment year, up to Hong Kong dollars HKD30,000 (USD3,820) per case. In his annual budget speech, Paul Chan also proposed widening tax bands, adding one more (HKD150,000 to HKD200,000); adjusting marginal tax rates for salaries tax; introducing a personal disability allowance; increasing basic, additional child allowances, dependent parent/grandparent allowance and additional allowance. He proposed giving spouses the ...
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