Hong Kong tax bill introduces temporary tax cuts

The Hong Kong government on March 4 published Inland Revenue (Amendment) (No. 2) Bill 2016, to implement the concessionary revenue measures proposed in the government’s 2016-17 budget, issued February 24.

The bill includes a 75 percent reduction in the profits tax, salaries tax, and tax under personal assessment for the 2015–2016 year of assessment, with the relief capped at HK$20,000 (approximately USD 2,571).

The bill will be introduced into the Legislative Council on March 16.

See:

• Bill

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