|
A summary of the proposals for a goods and services tax in Hong Kong
The Government released a consultation document on the tax reform in Hong Kong entitled "Broadening the Tax Base, Ensuring our Future Prosperity: What's the Best Option for Hong Kong?" on 18 July 2006. The Government considers that a Goods and Services Tax ("GST") is the most viable option for broadening the tax base in Hong Kong and presents a proposed GST framework for a nine-month public consultation.
This article explains what is a GST, provides an overview of GST in the Asia Pacific region and summarises the salient features of the Government's GST proposals. It also highlights some of the many issues in connection with the introduction of a GST that deserve closer consideration.
|
