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On 15 August 2019, the Financial Secretary of Hong Kong announced a package of measures to counter the challenging external and local economic environments. The proposed measures aim to support enterprises, in particular small and medium-sized enterprises (SMEs), in safeguarding jobs and relieving people's financial burdens. SMEs account for over 98 per cent of local enterprises and around 45 per cent of total employment, and are the cornerstone of our economy. To assist our SMEs to cope with the operating pressure in the current economic environment, we will introduce the following support measures:
The tax-related measures are summarized below.
The above proposals will be submitted to the Legislative Council for approval.
Source: HKSAR Press Release
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