The Chamber has urged the Financial Secretary to help Hong Kong prepare for economic challenges ahead and hone our competitiveness. In its submission to the Government’s 2019-20 Budget, the Chamber also reiterated that it is crucial that a proper regulatory impact assessment framework be established, and recommended replicating the preferential tax treatment for Hong Kong residents practised in Qianhai and Hengqin across the Greater Bay Area on an incremental basis.

The Chamber welcomes and supports the Government’s introduction of a bill on 14 November 2018 to implement a charging scheme for the purpose of reducing municipal solid waste. As an advocate of the polluter-pays principle, we believe that such a charging scheme would contribute to the reduction of waste at source and in promoting a greener lifestyle.

The PRC Ministry of Finance and the PRC State Administration of Taxation jointly released the Consultation Draft on the Detailed Implementation Rules of the PRC Individual Income Tax Law and the Provisional Implementation Measures of the Additional Itemized Deductible Items for public comment on 20 October, 2018. The four major local chambers jointly submitted a letter to the Ministries of Finance and State Administration of Taxation on 14 November to reflect Hong Kong businesses’ concerns and suggestions.