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  • November 26, 2014
  • Last updated: 5:01am
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  1. News - Hong Kong - BUDGET

    Profits tax soars 64pc despite government's gloomy forecasts: SCMP research

    Posted Mar 04th 2014, 11:20am by Tanna Chong, Cedric Sam

    ... missed the mark with tax projections The city's annual budgets have underestimated forecasts of profits tax income over the last four fiscal years for which figures are available, research ... the discrepancies signalled a need to revamp the tax structure across the board to stabilise government income and help plan for an ageing population and future economic downturns. "The profits tax ...

  2. News - Hong Kong - BUDGET

    Experts' views on Tsang’s budget

    Posted Feb 26th 2014, 02:29pm

    ... A: Cutting down on sweeteners, even up to 50 per cent, is appropriate. If expenditure growth continually surpassed increases in income, Hong Kong would be in deficit and eventually its fiscal ... sources of new income besides land revenues and taxes from salaries. It is time to widen the city’s tax base. Suitable tax deduction affects the competitiveness of Hong Kong. Other Asian countries ...

  3. News - Hong Kong - BUDGET

    Stamp duty should extend to commercial properties, accounting firm suggests

    Posted Feb 13th 2014, 07:30pm by Tony Cheung

    ... cent salary-tax discount, capped at HK$10,000 per taxpayer, and expanding the income bands at which progressively higher rates of salaries tax kick in, from HK$40,000 to HK$48,000. And Ernst ...

  4. News - Hong Kong - BUDGET

    Exco convenor urges government to scrap mass handouts in budget

    Posted Jan 25th 2014, 04:02am by Gary Cheung

    ... they should only be given to those really in need, such as elderly homeowners who have no regular income." The billions of dollars promised to the poor in the policy address have sparked concerns over whether the government can afford the rising expenditure. Lam did praise the chief executive for taking an important step to help the working poor by offering a low-income family ...

  5. News - Hong Kong - BUDGET

    Budget increase in Hong Kong's tobacco tax likely to be small

    Posted Feb 22nd 2014, 03:55am by EMILY TSANG AND LO WEI

    ... to the burden of low-income families. His party would require more discussion to decide whether to pass the proposed budget if it included a duty increase on tobacco. Anti-smoking activist Lam Tai-hing, ...

  6. News - Hong Kong - BUDGET

    Long-term focus is on next budget agenda, says John Tsang

    Posted Nov 26th 2012, 12:00am by Dennis Chong

    ... Chun-wah also wrote on his blog yesterday that there was a misconception that the government relied on high land prices to maintain a stable income. And he said the government had never been ... or land premium proceeds only amounted to 15 per cent of total income, citing an earlier forecast for this fiscal year. "Some people believe selling land is a major source of income [for ...

  7. News - Hong Kong - BUDGET

    Tax rise imminent, warns KPMG China

    Posted Feb 05th 2013, 12:00am by JOSHUA BUT

    ... and stabilise incomes. In the firm's annual budget forecast yesterday, Jennifer Wong Wan How-yee, a tax partner, said the government could record a surplus of HK$23.7 billion for this financial ... individual incomes and widen the tax base. Chief executive candidate Henry Tang Ying-yen supported a GST in 2006 when he was the financial secretary but the plan did not proceed because of public ...

  8. News - Hong Kong - BUDGET

    Price of entry to middle class? Coffee and tickets to French movies- finance secretary

    Posted Mar 01st 2013, 12:00am by Tony Cheung, Joshua But and Joyce Ng

    ... may not be necessary to set a salary limit [in defining the middle class]," said Tsang, whose salary of HK$302,205 a month is six times the earnings of the highest-paid middle-income ... year, Leung Chun-ying's rival Henry Tang Ying-yen suggested that families with monthly household incomes of HK$20,000 to HK$80,000 be defined as middle class. Chief Secretary Carrie Lam ...

  9. News - Hong Kong - BUDGET

    Hong Kong political, charity groups urge using budget surplus on poor

    Posted Feb 18th 2013, 12:00am by JOANNA CHIU AND PHILA SIU

    ... (SoCo). The term "n-nothing" refers to low-income people who do not receive any form of government assistance. Chiu carried a large placard depicting a pudgy, naked Tsang grinning ... party's recommendations for ways to allocate the surplus to assist low-income people. The list included increasing rent and utility subsidies, waiving property taxes, establishing daycare centres ...

  10. News - Hong Kong - BUDGET

    Tsang defends budget against criticism for doing 'too little'

    Posted Feb 28th 2013, 01:01pm by Tony Cheung

    ... I think my budget has met these objectives.” However, callers – including many who identified themselves as low-income – criticised Tsang for doing too little. "Budget sweeteners no real ...




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