Hong Kong Plans Tax Breaks For Innovative Firms
by Mary Swire, Tax-News.com, Hong Kong
21 August 2017
Hong Kong Chief Executive Carrie Lam is set to announce new tax incentives to boost the innovation and technology sector in her October Policy Address.
The news was announced by Secretary for Innovation and Technology Nicholas Yang, and confirmed in a government statement.
In addition, Hong Kong will launch a new Innovation and Technology Venture Fund, which is expected to launch in September 2017. "Right now, we are just finalizing some of the legal details because it turns out that we need to sign a lot of legal documents with the venture capitalists and also the so-called investees (the people who will receive the funding)," said Yang. "We need to make sure the agreement is done in a robust manner."
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