Hong Kong to launch new profits tax system next year

Updated 2017-10-25 09:32:02 Xinhua

The Hong Kong Special Administrative Region (HKSAR) aims to launch a new profits tax system in April when the new year of assessment starts, the HKSAR Chief Executive Lam Cheng Yuet-ngor said on Tuesday.

The amendment bill to facilitate the launch of a new two-tier profits tax system is expected to be tabled at the Legislative Council by the end of this year, she told the media before an Executive Council meeting.

Lam called on legislators to examine the amendment bill with efficiency.

The new profits tax system will cut tax rate for the first 2 million HK dollars (6,410) of company profits from 16.5 percent to 8.25 percent.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58December 11 2017 21:32:07

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16December 11 2017 21:32:07

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18December 11 2017 21:32:07

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords