Tax measures needed to support businesses in the coronavirus outbreak
TIHK’s 2020/21 Budget Proposals calls for new thinking to meet the challenges ahead
Hong Kong, 19 February 2020 – With the contraction of the economy in the 3rd and 4th quarters of 2019 and a gloomy outlook in 1st quarter 2020 due to the coronavirus outbreak, TIHK forecasts the HKSAR Government to record an HKD 53.3 billion consolidated budget deficit for the fiscal year 2019/20. Given the current economic situation and with the challenges ahead, the Institute believes that the 2020/21 Budget should focus on implementing measures that support enterprises and employment in the short term while fostering a business and tax environment that is conducive to the development of new economies in the long term….
More details in the attached pdf file.
The TIHK budget proposals 2020-21 is available at https://www.tihk.org.hk/budget-submission/