Goods and Services Tax
By the evidence of the budgets over the past few years, Hong Kong's strong fiscal position owes nothing to the wisdom of our financial secretary and chief executive.Sunday, 5 February, 2012, 12:00am
Entrepreneur Wilson Shea Kai-chuen, with a family of six, will have HK$24,000 more in his pocket this year thanks to the tax rebates. His family is also expecting to pay HK$5,610 less tax next year after an increase in allowances.2 Feb 2012 - 12:00am
In his consultation document on the 2009-10 budget, Financial Secretary John Tsang Chun-wah mentions a narrow tax base as one of our future challenges. The document says that, among the 3.55 million total working population, only 1.3 million (36.6 per cent) pay salaries tax. Is this problem really as serious as Mr Tsang suggests? And how shall we broaden the tax base?4 Feb 2009 - 12:00am
Clearly, in the policy address, Donald Tsang Yam-kuen rewarded his high-income and anti-democracy supporters by cutting their income and corporate taxes, while he chose to ignore the voices of the poor and the needy in society.18 Oct 2007 - 12:00am
Shouldn't our government be solving long-standing problems? Instead of pushing a string of large-scale infrastructure projects as the core of his policy address, the chief executive could have created a real 'new era' for Hong Kong by fixing many existing problems - one of which is social welfare.18 Oct 2007 - 12:00am
Finance chief suggests next government look at new levies
Any measures to broaden the tax base would be left to the next administration, Financial Secretary Henry Tang Ying-yen said yesterday on release of the government's tax-reform report.13 Jun 2007 - 12:00am
The government should keep the controversial goods and services tax as an option for broadening the tax base along with other possible alternatives, such as green taxes and an air, land and sea departure levy, an association of accountants said.30 Mar 2007 - 12:00am
Yesterday's budget was one of the final acts in the administration's current term. Financial Secretary Henry Tang Ying-yen rounded off his speech in valedictory tone, confirming that he will certainly not be the one presenting the budget next year. But would he go out with a bang or a whimper?1 Mar 2007 - 12:00am
The government will achieve budget surpluses of HK$35 billion this financial year and in 2007-08, allowing it to give HK$5 billion back to taxpayers, accounting firm Deloitte Touche Tohmatsu is forecasting.
It attributes the windfall largely to the soaring stock market, which has inflated investment income and stamp duty receipts.31 Jan 2007 - 12:00am
In 1984, his nightmare novel of life under a ruthless totalitarian state, George Orwell described how grateful workers demonstrated in the streets to thank the government for raising their chocolate allowance when in fact the state had cut the weekly chocolate ration by 10 grams to just 20 grams each only one day earlier.
Something similar happened in Singapore this week.25 Jan 2007 - 12:00am
There's no shortcut to success
Many people want to know how businessmen and athletes become successful.
The answer is simple: hard work and perseverance. Most of us want to be successful, but it's easier said than done.22 Dec 2006 - 12:00am
'Mr Tang will deliver his budget speech on February 28. He has said that it is unlikely to contain any surprises.'
SCMP, December 13
WELL, IT IS always said that when you want the obvious stated, look for a journalist. It has long been obvious that our Financial Secretary, Henry Tang Ying-yen, has no room for surprises.20 Dec 2006 - 12:00am
A tax with no compromises is an efficient way of collecting revenue, says Helen Clark
If Financial Secretary Henry Tang Ying-yen needs a soul mate as he licks his wounds after the ill-fated GST debate, he has one in New Zealand's veteran prime minister, Helen Clark.16 Dec 2006 - 12:00am
Having shamefacedly been forced to drop the political and economic non-starter that was the goods and services tax proposal (on Beijing's instructions, perhaps?), our financial wizards in government are pressing ahead with their consultation on how to widen the tax base. But what kind of phoney consultation is it when they have unilaterally ruled out an increase in the corporate tax rate?11 Dec 2006 - 12:00am
Public may be more willing to pay for environmental items, say Exco members
The government will continue its campaign to convince the public of the need to broaden the tax base in the remaining four months of the public consultation on a GST, including exploring the feasibility of a green tax, according to cabinet members.6 Dec 2006 - 12:00am