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GST may be the most suitable for Hong Kong

出自香港新聞網 - 樹仁新傳系學生實習習作

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(Why the government could run into financial deficit when it sits atop billions of dollars of foreign reserve? Why the rush to introduce new tax? You need to explain to us.)


115161 2014年3月11日 (二) 18:01 (UTC)

GST may be the most suitable for Hong Kong

Imposing GST is the most feasible way to broaden the tax base of Hong Kong, Joseph Yau who is the President of The Taxation Institute of Hong Kong said in Shue Yan University today.

Facing the fact that the Hong Kong government may run into a financial deficit in the near future due to the promise of not increasing tax, Yau suggested that imposing Goods and services tax is the most feasible and suitable for Hong Kong. "Many countries have already introduced GST, and it's easy for government to estimate the revenue."Yau explained.

However, Yau said its hard for the government to ensure all shops submit the exact amount of tax charged.

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