28 February 2018


The Financial Secretary, the Honourable Paul MP Chan, delivered the 2018-19 budget speech of the Government in the Legislative Council on 28 February 2018. The Financial Secretary proposed relief measures in various areas.




Tax Relief Measures

In addition to the proposed implementation of the two-tiered profits tax rates system announced in the 2017 Policy Address by the Chief Executive which is applicable to corporations and unincorporated businesses under which the tax rates for the first $2 million profits will be lowered to 8.25% and 7.5% respectively, the Financial Secretary proposed the following tax relief measures starting from the year of assessment 2018-19:

For the year of assessment 2017-2018 reduce profits tax, salaries tax and tax under personal assessment by 75%, capped at $30,000. Other Relief Measures include:-


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