The Hong Kong government has published a press statement to summarize the key budget measures for the upcoming fiscal year 2023/2024 that were announced by the Financial Secretary on February 22, 2023. While most measures are irrelevant for businesses, there were two that we find worth noting:
1. The Secretary plans to provide a one-off tax cut of 100% to profit taxes for the assessment year 2022/2023 up to a prescribed limit; and
2. The Secretary plans to adjust the value bands for rate 2 ad valorem stamp duty on real estate transactions.
As regards the second measures, the government has also published some frequently asked questions to address any relevant issues in this context.
Other Features
income tax
real estate
Real Estate Fund
REIT
taxation
taxes
Date Published: 2023-02-22
Regulatory Framework: not applicable
Regulatory Type: information
Innovation and Technology Venture Fund adds one co-investment partner
ID 26576
On December 27, 2023, the Hong Kong Innovation and Technology Commission announced that it ...
Consultation on implementation of global minimum tax and minimum top-up tax in Hong ...
ID 26487
The Hong Kong government or better the Financial Services and the Treasury Bureau and the ...
United Nations Sanctions (Central African Republic) Regulation 2020 (Amendment) ...
ID 26321
On December 15, 2023, the Hong Kong government published a press release to announce the g ...
ITIB publishes Policy Statement on Facilitating Data Flow and Safeguarding Data ...
ID 26170
The Hong Kong government has published a press statement to inform that the Innovation, Te ...