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  • September 2, 2014
  • Last updated: 2:05pm
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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

    ... Tanna Chong and Cedric Sam In light of warnings of a deficit ahead, the Post finds the government has been underestimating by billions how much it is due in profits tax How government 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 ...

  2. 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

    ... Emily Tsang and Lo Wei Compromise expected to see price of a pack of cigarettes rise by HK$4 to HK$8 Tobacco tax increase likely to be small Any increase in the tobacco tax in next week's budget is expected to be mild, with the government torn between activists' calls for a doubling of the duty and those of the biggest pro-government party for the tax to be frozen. ...

  3. News - Hong Kong - BUDGET

    'Give the middle class tax breaks' urges Taxation Institute

    Posted Jan 22nd 2014, 04:34am by Tony Cheung, JEFFIE LAM

    ... Tony Cheung and Jeffie Lam Taxation Institute urges John Tsang to increase allowances for group left short in the policy address and to widen the city's tax base 'Give the middle class tax breaks' Next month's budget should feature higher tax allowances and bigger deductions to make up for the fact the middle class got "nothing" from last week's ...

  4. News - Hong Kong - BUDGET

    Time to review Hong Kong tax system, say accountants

    Posted Feb 20th 2013, 12:00am by JOSHUA BUT AND TONY CHEUNG

    ... Joshua But and Tony Cheung Top accountancy firms are split on whether the city will slide into deficit next year, but they agree the tax base could be widened Is it time to review the tax system? Leading accountancy firms have suggested the government consider broadening the tax base given its growing expenditure and possible budget deficit in the coming years. The top firms agree ...

  5. News - Hong Kong - BUDGET

    Tax rebate ceiling likely to be cut to just HK$10,000

    Posted Feb 22nd 2013, 12:00am by Gary Cheung and Joshua But

    ... Gary Cheung and Joshua But But more than HK$10 billion will be injected into fund to help the needy, source reveals Tax rebate ceiling may be reduced to just HK$10,000 Financial secretary ... and alleviate the poverty gap. But the city's 1.5 million taxpayers may have to lower their expectations for relief measures, as the salaries tax rebate ceiling will be less than the HK$12,000 ...

  6. News - Hong Kong - BUDGET

    Tax rise imminent, warns KPMG China

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

    ... Joshua But joshua.but@scmp.com KPMG China predicts a budget deficit due to government spending and says a goods and services tax will help to widen the tax base Get set for tax rise, says expert Taxes could rise in the near future as government spending on public housing and land development are expected put the budget in the red, a leading accounting firm has predicted. To ease ...

  7. News - Hong Kong - BUDGET

    Experts' views on Tsang’s budget

    Posted Feb 26th 2014, 02:29pm

    ... inflation.   Q: Hong Kong’s middle class residents were hoping Tsang’s budget would offer them some relief. Do you think he give them enough "goodies"? A: The salaries tax reduction of up ... the government is in a good position now even to cancel the salaries tax.   Q: The increase in housing has become a big issue in Hong Kong. Did the new budget address this area adequately? A: Tsang said ...

  8. News - Hong Kong - BUDGET

    PwC pushes for tax breaks, relief measures in Hong Kong budget

    Posted Jan 09th 2013, 12:00am by LAUREN HO

    ... Lauren Ho lauren.ho@scmp.com PwC expects a HK$28.7b surplus and calls on John Tsang to provide some relief measures Accountants push for tax breaks A top accounting firm urged the government to offer more tax concessions and relief measures in the budget as it forecast a surplus of up to HK$28.7 billion in the current financial year, thanks to a windfall from land sales. ...

  9. News - Hong Kong - BUDGET

    Stamp duty should extend to commercial properties, accounting firm suggests

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

    ... tax only speculators who resell commercial property quickly, accountancy giant Ernst & Young said yesterday. The firm's suggestions for this month's budget also include a 75 per 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 ...

  10. News - Hong Kong - BUDGET

    Hong Kong's financial secretary may slash giveaways by at least 30 per cent in budget

    Posted Feb 20th 2014, 03:17am by Gary Cheung

    ... out last year. Financial Secretary John Tsang Chun-wah is expected to cut the salaries tax rebate and property rate waivers. The salaries tax rebate was HK$10,000 last year and cost the government HK$8.4 billion. Tsang said on his blog on February 9 that tax rebates and one-off relief measures would "very soon become history". He waived rates for all four quarters ...




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