Florence Chan, (left) says a change in tax regimen would boost Hong Kong's competitiveness. Photo: RTHK
The Hong Kong Institute of Certified Public Accountants has called for the formation of an experts panel to study the need for a change in Hong Kong’s tax system.
The accountants made the proposal in an appeal to the Financial Secretary, John Tsang, ahead of the announcement of his annual budget.
The group said such a tax policy unit, with experts from various fields to evaluate whether changes are needed in the tax system, would boost Hong Kong's competitiveness.
Florence Chan, the chairperson of the institute's Taxation Faculty Executive Committee, says this would boost Hong Kong's competitiveness.
The institute expects the government to record a HK$79.1 billion budget surplus this financial year. While it proposed tax reductions for those paying rent, as well those who've subscribed to private healthcare insurance, it says it does not recommend cash handouts or one-off sweeteners, like rates waivers.
http://news.rthk.hk/rthk/en/component/k2/1234957-20160111.htm
