In a release published 5 July 2017, the Hong Kong Government responds to questions posed in the Legislative Council on possible tax concessions proposed by the Chief Executive, which include:
- Introducing a two-tier profits tax rate system and lowering the profits tax rate for the first HKD 2 million of profit from the current 16.5% to 10% so as to reduce the tax burden on small and medium enterprises; and
- Providing additional tax deductions for research and development expenditu…