The Financial Secretary, Paul Chan, is scheduled to present the 2026-27 Budget at the Legislative Council today (Feb. 25) at 11 am.
The Hong Kong government announced new revenue-raising measures, including a stamp duty increase on high-value residential properties and the implementation of a global minimum tax regime.
Under the proposal, stamp duty rates for residential property transactions exceeding HK$100 million will rise from 4.25% to 6.5%, affecting approximately 0.3% of residential deals. The measure is expected to generate an additional HK$1 billion in annual revenue and will take retrospective effect from tomorrow once legislative approval is secured.
Authorities also confirmed they will press ahead with OECD-backed tax reforms targeting large multinational enterprises. Following amendments to the Inland Revenue Ordinance last year, corporate groups with annual consolidated revenue of EUR 750 million or more will be subject to the global minimum tax and a Hong Kong minimum top-up tax. The new regime is projected to contribute around HK$15 billion in additional tax revenue annually starting from the 2027-28 fiscal year.
A government spokesperson said both measures align with the "affordable users pay" principle in strengthening public finances.
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