Hong Kong Proposes Tax Measures Under 2025-26 Budget Speech

The Hong Kong Government Feb. 26 announced proposed tax measures under the 2025-26 budget speech. The speech includes measures that would: 1) reduce the profits tax, salaries tax, and individual income tax by 100 percent for the 2025-26 assessment year, capped at HK$1,500 (US$193); 2) set concession rates for domestic and non-domestic properties for Q1 2025-26, up to HK$500 (US$64) per quarter for each property; 3) extend application of the small and medium enterprise financing guarantee regime until November 2025; 4) implement the 15 percent global minimum corporate tax rate for MNEs with a global turnover exceeding 750 million euros ...