Hong Kong 5-year plan should have Northern Metropolis tax breaks, listing reforms: HKICPA
The Hong Kong Institute of Certified Public Accountants (HKICPA) has urged the government to introduce tax incentives to help develop the Northern Metropolis and to improve the stock exchange’s listing regime to further cement the city’s role in international finance. The organisation’s submission for Hong Kong’s first five-year plan asked the government to consider tax incentives for investors…
The Hong Kong Institute of Certified Public Accountants (HKICPA) has called for tax incentives and reforms to bolster Hong Kong's Northern Metropolis and stock exchange. Stephen Law Cheuk-kin, the HKICPA's president, emphasized that tax breaks for investors backing Northern Metropolis start-ups would be beneficial. The Northern Metropolis initiative seeks to transform 30,000 hectares of land near the mainland border into a tech hub.
HKICPA also recommended lower tax rates for residents working in the area. Moreover, HKICPA CEO Arthur Lee Kin urged the government to negotiate with Chinese authorities over a 20% tax on cross-border trust and insurance policy gains for mainland investors. The HKICPA also advocated for a streamlined stock listing process and a platform for start-ups, like Hong Kong Exchanges and Clearing's GEM board, to attract more high-quality companies to the city.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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