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Highlights on the 2019/20 budget

4 March 2019

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A number of measures outlined in last week’s budget announcement help ensure that Hong Kong remains an attractive hub for business investment in the region.

Small businesses, multinational companies, fund management and leasing (aviation and shipping) sectors will be the key beneficiaries over the upcoming years, based on a number of initiatives outlined, as follows:

  • Reduce Profits / Salaries tax for the year 2018/19 by 75% (subject to a ceiling of HKD20,000 per case) and waive Business Registration (BR) fee for 2019/20
  • Enhance tax measures on corporate treasury centres regime to strengthen Hong Kong’s competitiveness
  • Develop Hong Kong as a ship leasing centre in the Asia Pacific region (alongside aviation leasing)
  • Study the establishment of a limited partnership regime for private equity funds, with a view to providing the industry with more fund structure choices and introduce a more competitive tax arrangement to attract PE funds to set up and operate in Hong Kong
  • Promote the development of Hong Kong’s bond market by launching the Pilot Bond Grant Scheme to encourage enterprises to issue bonds in Hong Kong and offer tax concessions to attract more investors to our bond market

In Hong Kong, we provide a full range of services tailored to assist companies, fund managers and individuals with optimising their business activities and investments. If you’re interested to know more about how we can support you to do business in Hong Kong, get in touch with our experts.