Hong Kong's Inland Revenue (Amendment) Bill 2009 was officially gazetted on Thursday, April 30, 2009.
The bill will allow a one-off reduction of 50% on salaries tax and tax under personal assessment for 2008-09 - subject to a ceiling of HKD6,000 (USD774.185).
The Financial Secretary had announced the measure in the 2009-10 Budget.
The bill will be introduced into the Legislative Council on May 13, and the reduction will be reflected in the taxpayer's final tax payable for 2008-09.
It is estimated the proposal will cost the government about HKD4.1bn (USD529m) in 2009-10.
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