Market Chatter: Deloitte Believes Bonds' Maturity to Lead to Additional Fiscal Deficit in Hong Kong

MT Newswires Live11-13 17:22

Chartered accounting firm Deloi<tte believes that maturity of bonds may lead to a fiscal deficit of over HK$100 billion, dropping the fiscal reserves to around $HK600 billion, The Standard reported Wednesday.

In its SAR budget-related proposals, it recommended cutting taxes for mainland China and overseas entities to be offered 8.25% tax for setting up headquarters, half of what is currently being charged, the Standard said.

It also gave other suggestions, such as giving tax exemptions on research and development and the cost of purchasing intellectual property. The firm also recommended that special concessions be given to Mainland China to establish family offices in Hong Kong, the publication said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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