On 25 May 2015, the Hong Kong government announced the passage of the Inland Revenue (Amendment) Bill 2017 by the Legislative Council. The legislation provides for the implementation of 2017-18 Budget measures, which include:
- Reducing profits tax for the 2016-17 year of assessment 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 fr…