Hong Kong SAR Budget Summary 2017/18

July 13, 2017

Profits Tax

  • No change in profits tax rates
  • Plan to offer tax concession on aircraft leasing and financing
  • Propose extending profits tax exemption to onshore privately-offered open-ended fund companies

Salaries Tax

  • No change in salaries tax rates
  • Widen the marginal tax bands by 12.5% to HK$45,000
  • Increase disabled dependent and dependent brother/sister allowances by 13.6%
  • Increase the deduction ceiling for self-education expenses by 25%
  • Extend the entitlement period for tax deduction for home loan interest from 15 to 20 years of assessment
  • Examine providing a tax deduction for the purchase of regulated health insurance products

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Topics: Regulatory Updates & News

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