close

Newsroom

Do you have clients with interests in Hong Kong? Read a quick summary of what the recent Hong Kong 2021/22 Budget means for your client's business

8th March 2021

MGI World HK Budget 518X362

Mr. Paul Chan, Financial Secretary for the Hong Kong Special Administrative Region (HKSAR), delivered the HK 2021/2022 budget on Wednesday, 24 February 2021, outlining the government’s plan for the economy and proposals for taxation developments.

The budget forecasts the highest fiscal deficit in Hong Kong's history of HKD257.6 billion for the financial year (FY) 2020-21, against the backdrop of successive shocks including the COVID-19 pandemic and local social incidents.

The budget also contains measures touching on a broad range of sectors, including financial services, tourism, innovation and technology, and the digital economy.

"It is hoped that the budget will help buffer the impact of economic recession on society and people’s livelihoods, and pave the way for the post-pandemic economic recovery," said Ken Yeung, partner at Kenneth Chau & Co, MGI Worldwide member in Hong Kong.

The firm has prepared a summary of the budget and what the Hong Kong 2021/22 Budget means for your clients' business.

READ THE FULL PAPER HERE.

For further details or assistance contact Ken Young at kenyeung@kennethchaucpa.com

MGI Worldwide with CPAAI, a top 20 ranked global accounting network and association with almost 10,000 independent auditors, accountants and tax experts in some 460 locations in over 100 countries around the world.

Read more on Member white papers and Asia

MGI World Open laptop on desk with text overlay

Have a client that is considering China? Lehman Brown details how to open a Representative Office (RO) in China

25th June 2021

Opening a Representative Office (RO) in China is one of the most popular options for foreign...

MGI World Detail of Global Mobility paper

Have you considered the impact of Covid-19 on the taxation of remuneration for the global workforce?

24th June 2021

As many countries are dealing with travel restrictions because of Covid-19, the impact on mobile...

MGI World India landscape with text and Lehman Brown elements

China offers new VAT Tax relief for SME's and Self-Starters. MGI Worldwide member LehmanBrown International Accountants explains

20th May 2021

In his recent white paper, Dickson Leung, partner at MGI Worldwide CPAAI member firm LehmanBrown...