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Hong Kong Government
> The 2015-2016 Budget
The 2015-2016 Budget
Profits tax rates for companies(16.5%) and unincorporated businesses (15%) remain unchanged.
Consider extending the scope of tax deduction for capital expenditure
incurred on the purchase of intellectual property rights to cover more types of
intellectual property rights as appropriate.
Amend the tax law to allow, under specified conditions, interest deductions
under profits tax for corporate treasury centres and reduce profits tax for specified treasury activities by 50%.
No change in the standard tax rate, progressive tax rates and the income bands for progressive tax rates.
Increase the basic and additional child allowances to HK$100,000 (for each child).
Provide tax concession for subscribers to regulated health/medical insurance products.
Waive the licence fees for travel agents, hotels and guest houses,restaurants, hawkers and operators with restricted food permits for six months.
Waive vehicle examination fee once for the renewal of vehicle licences of
taxis, light buses, franchised and non-franchised buses, goods vehicles, trailers and special purpose vehicles within a year.
Waive 75% of profits tax for 2014/15 (subject to a HK$20,000 ceiling) to be
deducted from the taxpayer’s final tax payable for the year.
Waive 75% of salaries tax and tax under personal assessment for 2014/15, subject to a ceiling of HK$20,000, to be deducted from the taxpayer’s final
tax payable for the year.
Waive rates for the first two quarters of 2015/16, subject to a ceiling of
HK$2,500 per quarter for each rateable property.
Pay one month’s rent for the lower income tenants of public housing,
excluding certain wealthier tenants and non-elderly tenants.
Provide two additional months of Comprehensive Social Security Assistance
(CSSA) payment, Old Age Allowance, Old Age Living Allowance and Disability Allowance.
Extend the application period for special concessionary measures under
SME Financing Guarantee Scheme to 29 February 2016.
Inject $1.5 billion in to the SME Export Marketing and Development Funds.
Inject additional $400 million in to the Create Smart Initiative to support
different sectors of the creative industries.
Earmark $23 million in the coming three years for offering intellectual
property consultation, manpower training and other services to SMEs. • Issue iBond (i.e. inflation-linked retail bonds) worth up to $10 billion.
Spend $91 billion to add 2,800 hospital beds and support public-private
Set aside $50 billion to provide better retirement protection for the elderly
Establish a Future Fund to serve as long-term savings. The fund will be
placed in long-term investments for higher returns.
The 2015/16 Land Sale Programme will include 29 residential sites (of
which 16 are new ones), four commercial/business sites and one site for hotel development.
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