Hong Kong’s Legislative Council, on June 25, passed concessionary tax measures that reduce by 75 percent the profits tax, salaries tax, tax under personal assessment for tax year 2013-14, subject to a ceiling of $10,000 per case.
The government also increased allowances for maintaining a dependent parent or grandparent and raised the deduction ceiling for elderly residential care expenses under the salaries tax and tax under personal assessment.
The revenue measures were first proposed in the 2014-15 budget, released February 26. Press release
