Hong Kong Parliament Passes Bill on Specific Tax Concessions

The Hong Kong Legislative Council April 19 passed a bill as part of the 2023-24 budget to provide a one-time 100 percent reduction of salaries tax, profits tax, and individual income tax for assessment year 2022-23, up to HK$6,000 (US$764) per case. [Hong Kong, Legislative Council, 04/19/23]

Reference: View Announcement. View Inland Revenue (Amendment) (Tax Concessions) Bill 2023. View Legislative History of View Inland Revenue (Amendment) (Tax Concessions) Bill 2023.