Budget tax plea over minimum wage

The Hong Kong government should introduce concessionary profit tax rates for small and medium-sized enterprises in the coming budget to offset the impact of the minimum wage, a survey of business people found. Nearly 80 per cent of those polled by accountancy association CPA Australia backed the move. About two-thirds of those said the rate should be set at 13.5 per cent. About 70 per cent said high rental costs, pollution and high living costs are preventing companies from setting up in the city.