Feb 2011The Hong Kong Financial Secretary announced his 2011/12 Budget on 23 February 2011. As far as Hong Kong salaries tax is concerned, no change in the standard tax rate, marginal tax rates and marginal tax bands has been proposed. However, certain allowances and the maximum deduction for elderly residential care expenses have been increased by 20% to help alleviate the burden of people in supporting their parents / grandparents and raising their children. Numerous one-off relief measures have also been proposed to help ease the impact of inflation.
Although the 2011/12 Budget contains a number of changes in relation to Hong Kong salaries tax, the impact of those changes on expatriates is expected to be insignificant.
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