Advisers expose missed opportunities in Hong Kong budget
24 February 2011
Hong Kong is losing out to Singapore as a location for investment and needs to rethink its tax strategy, say critics of yesterday’s budget.
John Tsang, the financial secretary, yesterday explained
that the Hong Kong economy "has fully recovered" from the
global downturn and celebrated this news by giving individual
taxpayers a number of cash giveaways.
However, Tsang made no changes to the tax system prompting
many professionals to vent their frustration.
"As tax practitioners, we are quite disappointed with the
budget which failed to address, despite repeated calls from
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