Hong Kong 2020-21 Budget Delivered

On 26 February 2020, Hong Kong Financial Secretary Paul Chan delivered the 2020-21 Budget. Some of the main measures of the budget include:

• A reduction in the profits tax for the year of assessment 2019-20 by 100%, subject to a ceiling of HKD 20,000 (also applies for salaries tax and tax under personal assessment);
• A waiver of rates for non-domestic properties for the four quarters of 2020/21, subject to a ceiling of HKD 5,000 per quarter in the first two quarters and a ceiling of HKD 1,500 …