EY sees Hong Kong posting record HK$363B deficit; advises tax cuts to retain international finance hub status

13 January 2021 | 3 minutes read

Ernst & Young Tax Services Limited (EY) estimates the fiscal deficit of the HKSAR government will be a record HK$363 billion in 2020/21 financial year, yet the consultant holds that this is “not an appropriate time” to discuss any tax increases and instead suggested measures in the upcoming budget to reduce the tax burden so as to maintain the city’s…

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