What it means to you

2017 Policy Address

The Hong Kong Chief Executive has announced the 2017 Policy Address, outlining Government’s plans for the economy and proposals for any changes to taxation. Our subject-matter experts share their views on the key issues that matter most to you and your business, and how we can create value to fuel the economic growth.

 

Topical issues in Hong Kong

Boosting innovation and technology through R&D tax incentives

Innovation is an engine of economic growth. We believe the tax deduction on research & development (R&D) expenses announced in 2017 Policy Address could stimulate the overall R&D expenditure of Hong Kong to catch up with international benchmarks. However, enhanced regime and more clarity are essential to make the R&D incentives distinctive and create more values to the wider economy. 

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New tax measures announced to support economic growth and diversification

HKSAR Government has announced new tax measures in the 2017 Policy Address, worth noting a two-tier profit tax system for small and medium sized enterprises (SMEs) and a super tax deduction for qualifying research and development expenditure. 

We welcome the Government’s initiative of strategically utilising tax measures as a tool to support the growth of targeted sectors/industries and promote economic diversification in Hong Kong. Learn more about our views and how it impacts your business.

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Different pace of development among the Bay Area cities creates long-term opportunities

The National Development and Reform Commission (NDRC) and the governments of Guangdong province, Hong Kong and Macau have signed a framework agreement to step up their collaboration in the Bay Area. Although the 11 cities in the Bay Area are at different stages in their growth, we believe this creates tremendous opportunities for the region. 

Aiming at encouraging Hong Kong corporates and individuals to do business in the Bay Area, our advocacy paper recommends HKSAR Government to:

  • Enhance cross-border tax policies via bilateral agreements that facilitate the flow of capital, people, goods and services in the Bay Area
  • Enhance profits tax policies to promote innovation and technology
  • Provide tax incentives that encourage the set-up of regional headquarters in Hong Kong

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Hear our thoughts

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R&D tax incentives could attract talent and boost high value-added business in Hong Kong

Charles Lee, China South and Hong Kong Tax Leader, PwC Hong Kong

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R&D incentives should cover the whole value chain to attract more investment

Roger Di, R&D Incentive Services Leader, PwC China

 

More hot topics in Hong Kong

6 key Smart City development plans

Click here to read our consultancy study for HKSAR Government on Smart City blueprint

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Why e-sports is growing so fast in Hong Kong?

Cecilia Yau, Entertainment and Media Leader, PwC Hong Kong, and Eric Yeung, President of E-Sports Association Hong Kong

Review of Hong Kong's MPF system: Recommendations for key reforms

Possible steps and actions to take to ensure Hong Kong’s MPF system remains fit-for-purpose into the future

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Improving lives through artificial intelligence

Scott Likens, New Services and Emerging Technologies Leader, PwC Experience Centre & Digital Services

Big data, online portals, and community care: the future of elderly care in Hong Kong

Insights into developing a sustainable and effective elderly care system in Hong Kong

 

Related content

2018/19 Hong Kong Budget

The next Hong Kong Budget will be delivered by the Financial Secretary on 28 February 2018. 

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Calum Davidson

Greater China Deals Leader, Hong Kong

+[852] 2289 2323

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Charles Lee

China South and Hong Kong Tax Leader, Hong Kong

+[852] 2289 8899

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Humphrey Choi

China, Hong Kong and Asia Pacific Assurance Leader, Hong Kong

+[852] 2289 1066

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Shirley Xie

China and Hong Kong Consulting Leader, Hong Kong

+[852] 2289 1035

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Wayne KH Yim
Head of Media Team
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