ACCOUNTANTS have become the latest professional group to attack the Government's proposed old age pension scheme.
The Hong Kong Society of Accountants said the scheme would discriminate against unincorporated businesses with a higher tax burden.
President Eric Li Ka-cheung said self-employed people would be forced to pay an additional three per cent of profit tax in addition to current income tax, while limited companies only contributed 1.5 per cent of the payroll cost under the scheme.
'Lawyers will be most adversely affected because they are legally prohibited from incorporating as limited companies,' he said.
Under the Company Ordinance in Hong Kong, lawyers and accountants are strictly barred from incorporating.
The Government has granted approval to accountants to establish limited companies, leaving lawyers to bear the brunt.
Mr Li also complained the system did not link benefits to contribution.