Hong Kong Legislative Council Passed the Tax Reduction Introduced in 2013/14 Budget
Hong Kong Legislative Council passed the tax reduction introduced in 2013/14 Budget on 26 June, 2013. The tax measures include increasing the basic and additional child allowance, raising the deduction ceiling for expenses of self-education and a one-off reduction in salaries tax, tax under personal assessment and profits tax for the year of assessment 2012/13 by 75%. It is expected that the measures will benefit about 1.53 million taxpayers and 119 thousand companies.
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