On 22 February 2017, Hong Kong Financial Secretary Paul Chan Mo-po delivered the 2017-18 Budget. The direct tax-related measures of the budget are mainly limited to:
- Reducing profits tax for 2016-17 by 75%, subject to a ceiling of HKD 20,000 (also applies for salaries tax and tax under personal assessment); and
- Widening the marginal bands for salaries tax from the current HKD 40,000 to HKD 45,000 starting from 2017-18, which would result in the following brackets:
- up to HKD 45,000 -2%
- over H…