Hong Kong cuts tax rates: no surprise there

October 11, 2007 10:50 AM

Hong_kong
The Financial Times reports that Hong Kong will cut corporate and salary taxes by 1 percentage point to 16.5 and 15 per cent respectively.


This really isn't surprising. The Hong Kong government knows how to maintain the city's world-leading position, although the tax cuts have only used a small portion of last year's financial surplus. It's also true that a few years ago Hong Kong raised tax rates slightly.


But at least they are now being reduced. If only national insurance contributions could also come down again.

Hong_kong
The Financial Times reports that Hong Kong will cut corporate and salary taxes by 1 percentage point to 16.5 and 15 per cent respectively.


This really isn't surprising. The Hong Kong government knows how to maintain the city's world-leading position, although the tax cuts have only used a small portion of last year's financial surplus. It's also true that a few years ago Hong Kong raised tax rates slightly.


But at least they are now being reduced. If only national insurance contributions could also come down again.

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