Financial Secretary Paul Chan announced the new budget today (Feb. 26). According to Chan, having regard to the pressure faced by some industries and the people, and the fiscal situation, the Government will introduceseveral measures, which include:
Reduce salaries tax and tax under personal assessment for the year of assessment 2024/25 by 100 percent, subject to a ceiling of HK$1,500;
Reduce profits tax for the year of assessment 2024/25 by 100 percent, subject to a ceiling of HK$1,500.
The reduction will be reflected in the final tax payable for the year of assessment 2024/25.
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Tag:·Budget 2025-26· slaries tax· profits tax· Paul Chan· 1-minute News
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