Revitalising Hong Kong's economy for greater success
Helping businesses and individuals stay ahead of the game, find out our commentary and analysis on this year’s budget. Join the discussion #HKBudget2020
Financial Secretary Paul Chan Mo-po announced the 2020/21 Hong Kong Budget on 26 February, outlining the Hong Kong SAR Government’s plan for the economy and proposals for taxation developments. Keep a close eye on Hong Kong’s fiscal health to stay ahead of the game. Find out from us what the budget means for you, your business and Hong Kong’s economy.
Revised forecast deficit of HK$37.8bn for 2019/20, and forecast deficit HK$139.1bn for 2020/21
100% government guaranteed low-interest loan for enterprise, with repayment period up to 3 years and only interest payment for first 6 months
Earmark about HK$50bn for the two 10-year Hospital Development Plans and increase spending for healthcare manpower
Earmark HK$3bn to take forward Phase 2 of the Science Park Expansion Programme
HK$10,000 cash payout to Hong Kong permanent residents aged 18 or above
Earmark HK$40m to subsidise short-term internships for students taking STEM programmes in local universities
The information in this booklet is based on taxation laws and practices as of 26 February 2020 and incorporates legislative proposals and measures contained in the 2020/21 Hong Kong Budget announced on the same date.
Note: Legislative proposals do not become law until their enactment and may be modified by the Legislative Council before being enacted.
Director, PwC Hong Kong
Tel: + 2289 8719