On 24 February 2016, Hong Kong's Financial Secretary John C Tsang delivered the 2016-2017 Budget. The main features of the budget include:
- A 75% reduction in final profits tax for 2015-16, with a benefit cap of HKD 20,000;
- Measures to support SMEs, including:
- Extending the SME Financing Guarantee Scheme to 28 February 2017;
- Reducing the annual guarantee fee rate by 10%; and
- Removing the minimum guarantee fee;
- A waiver of the business registration fees for 2016-17;
- A three-year Pilot Techno…