What it means to you
2018 Policy Address
The Hong Kong Chief Executive has announced the 2018 Policy Address, outlining the HKSAR Government’s plans for the economy and proposals for any changes on taxation. Our subject matter professionals share their views on the key issues that matter most to you, your business, and how we can create value to fuel economic growth.
Our perspectives
Tax incentives announced to promote economic diversification
In the 2018 Policy Address, HKSAR Government has revealed tax measures to foster the growth of targeted sectors in Hong Kong, including maritime leasing and marine insurance.
We support these initiatives as this can help develop a diversified economy in Hong Kong. We also recommend proposed tax measures for maritime leasing be applied to both operating and finance lease arrangements and tax incentives be offered to a range of shipping-related support services.
Our proposed measures to raise Hong Kong's competitiveness
To enhance Hong Kong’s competitiveness and reduce its exposure to macroeconomic risks, we recommend the Government to:
- Extend super tax deduction to cover subcontracted research and development arrangements.
- Offer unilateral foreign tax credits to strengthen Hong Kong’s position as a regional intellectual property hub.
- Roll out tax measures to continue Hong Kong’s leading role in the global maritime and ship financing industry.
- Facilitate the flow of people, goods and capital into the Greater Bay Area.
Hear our views on tax, financial and smart city measures announced in 2018 Policy Address
Jeremy Choi explains why economic diversification is crucial to strengthening Hong Kong’s competitiveness.
Agnes Wong shares how tax incentives can benefit the development of the Greater Bay Area. (Cantonese version only)
Explore more
The previous Hong Kong Budget
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Julia In
Senior Manager, PwC Hong Kong
Tel: +[852] 2289 8687
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