Hong Kong - The 2012/13 Hong Kong Budget

Global Watch ()

The Hong Kong Financial Secretary announced his 2012/13 budget, the final one for the current-term Government, on February 1, 2012. As far as Hong Kong salaries tax is concerned, no change in the standard tax rate, marginal tax rates and marginal tax bands has been proposed. However, numerous changes to the personal allowances and concessionary deductions for salaries tax have been proposed to help ease the pressure of inflation and uncertain economic outlook on the community. In addition, a basket of one-off relief measures similar to those mentioned in the last year have been proposed to help safeguard the people’s livelihood.