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KPMG: Commentary on the 2020-21 Budget

Hong Kong’s financial secretary, the Honourable Paul MP Chan, delivered his 2020-2021 Budget speech to the Legislative Council today, with the Hong Kong government recording its first budget deficit for 15 years. The Hong Kong government’s strong fiscal reserves mean it has the capacity to provide immediate measures to tackle the situation and invest in the long term.

Mr Chan set out a range of measures to support the economy and restore confidence. The challenges from global and local uncertainties, and the recent coronavirus outbreak, provide the backdrop to a tougher outlook for Hong Kong.

A summary of the budget proposals, together with KPMG’s comments, can be accessed through this link.  

In addition to the Budget-specific information, the website also includes information and links to various tax-related topics to provide you with a simpler way of getting other useful tax information