Hong Kong Budget 2024-2025 These initiatives underline Hong Kong’s strategic direction towards high-quality development, leveraging its unique position to attract global enterprises and talent while supporting local businesses and communities.

In February 2021, the Financial Secretary has announced 2021/22 Budget, outlining the plans for the economy and proposals for changes to taxation. The major proposed tax concessions and measures including: For Corporate For Salaries/ Individuals Tax (i) One-off reduction of salaries tax for the year of assessment 2021/22 by 100%, subject to a ceiling of HK$10,000 per case (ii) No change in the standard tax rate, progressive tax rates and tax bands (iii) No change in all kinds of individual allow

The Economic impacts brought by Epidemic Coronavirus disease 2019 (“Covid-19”) has spread across the world. As of mid-June, there are more than 8 million confirmed cases and the global economy has been seriously impacted by this epidemic. Different countries have implemented their respective policies to limit the human and economic impact brought by the Covid-19 pandemic. Budget for Anti-epidemic Fund The chart below shows the total amount of budget package adopted by different jurisdictions as

Everyone know that Hong Kong is a city where consistently ranked among the top in the world in term of economic competitiveness, Hong Kong has a simple and easy business set-up process, Hong Kong is one of the most simple tax system with low tax rates in the world… BUT what’s more……Hong Kong Government value a lot the contribution of small and medium enterprise (“SMEs”) and therefore, launch numerous grants to provide a relief for SMEs during their tough period, to support the development of SME

In March 2018, the Financial Secretary has announced 2018/19 Budget, outlining the plans for the economy and proposals for changes to taxation. The major proposed tax concessions and measures including: For Profits Tax For Salaries/ Individuals Tax (i) Increasing the width of marginal tax bands & increase the number of tax bands from 4 to 5: (ii) One-off reduction of salaries tax for the year of assessment 2018/19 by 75%, subject to a ceiling of HKD30,000 per case (iii) Increasing allowances

On 29 Dec 2017, the Inland Revenue (Amendment) (No.7) Bill 2017 was gazette. The bill seek to implement a two-tiered profits tax rate regime and will apply starting the year of assessment 2018/2019. For Limited company For Unlimited company/ Partnership Objectives To attract more foreign businesses To keep a competitive taxation system, i.e. maintaining a simple tax regime and low tax rates Reduce tax burden on enterprises (especially small and medium sized company) Tax Implication A qualified t

In February 2017, the Financial Secretary has announced 2017/18 Budget, outlining the plans for the economy and proposals for changes to taxation. The major proposed tax concessions and measures including: For Profits Tax For Salaries/ Individuals Tax (i) Increasing the width of marginal tax bands (ii) One-off reduction of salaries tax for the year of assessment 2016/17 by 75%, subject to a ceiling of HKD20,000 per case (iii) Increasing allowances Disable dependent allowance increase from HKD66,

Background of Tax Reforms Since G20 leaders decided to update international tax rules, countries started to implement Base Erosion and Profit Shifting (BEPS) project which released by the Organisation for Economic Co-operation and Development’s (OECD). The tax reforms put an end to any tax advantage companies receive by shifting their profits into tax havens and it close the opportunities that companies take benefits from agressive tax planning. Meanwhile, the BEPS reforms is likely to inc

New Third Board is a national “over-the-counter” market regulated by the China Securities Regulatory Commission (CSRC) which allows the national small and medium-sized enterprises (SMEs) to raise capital via share transfers to investors. There are generally three mechanisms for off-market transfer, namely market making, by agreement and bidding. This platform provides an alternative financing channel to small enterprises especially those who are still awaiting to meet the initial public offering