According to reports in the Hong Kong media yesterday, three major business groups have agreed to support a 1% increase in corporate profits tax in Financial Secretary, Antony Leung Kam-chung's forthcoming budget.
The South China Morning Post revealed on Monday that the Federation of Hong Kong Industries, the Hong Kong Chamber of Commerce, and the Hong Kong Chinese Manufacturers' Association all gave their approval for a 17% profits tax to be introduced on March 5.
This news followed the announcement on Friday that SAR civil servants are prepared to accept a 6% pay cut in order to help bridge the territory's HK$70 billion deficit.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment