27 February 2014
HONG KONG BUDGET 2013/2014 – Tax Highlights
Hong Kong’s Competitiveness
For eight years in a row, we have been accredited by the World Bank with a top ranking for ease of paying taxes in its survey 'Paying Taxes - The Global Picture'. Our total tax rate is among the lowest in advanced economies. Hong Kong was rated as one of the world's three most competitive economies for the ninth consecutive year by the International Institute for Management Development in Lausanne, Switzerland.
Relief Measures
Proposed one-off relief measures that may benefit tax payers:-
- reducing profits tax for 2013-14 by 75 per cent, subject to a ceiling of $10,000
- reducing salaries tax and tax under personal assessment for 2013-14 by 75 per cent, subject to a ceiling of $10,000
Please note the above measures will need to be applied by the applicant and should not be taken as automatically being granted such one-off relief measures.
Please feel free to contact us should you require more information on the above.
CONTACT INFORMATION
info@alcpa.com.hk
(852) 2574 8289
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