On 22 February 2017, Hong Kong Financial Secretary Paul Chan Mo-po delivered the 2017-18 Budget. The direct tax-related measures of the budget are mainly limited to:
The budget also notes that Hong Kong has joined the inclusive framework for implementing the BEPS package and that a tax policy unit will explore enhanced tax deductions for innovation and technology expenditure. Further details are not provided in the budget, although Hong Kong has held a consultation on the legislative framework for certain BEPS measures, including the exchange of tax rulings, transfer pricing rules based on the OECD guidelines, and documentation requirements based on Action 13 (previous coverage). Required legislation is to be introduced in mid-2017.
Click the following link for the Hong Kong 2017-18 Budget webpage.
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