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KPMG: Hong Kong budget summary 2022-2023
On 23 February 2022, Hong Kong’s financial secretary, the Honourable Paul MP Chan, delivered his 2022-2023 Budget speech to the Legislative Council.
Despite the ongoing COVID-19 pandemic, the Hong Kong SAR government is estimating a budget surplus of HKD 18.9 billion for 2021-22, while its fiscal reserves are set to increase to HKD 946.7 billion by March 2022. This underlines the strong position of the government’s books and resilience of the Hong Kong economy. In his speech, the Financial Secretary outlined a range of measures to support businesses and residents that have been impacted by the pandemic, foster the post-epidemic economic recovery and enhance Hong Kong’s competitive position as an international trade and financial centre.
A summary of the budget proposals, together with our 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.
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