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Joseph Yau: Broaden tax base still need further discussion

出自香港新聞網 - 樹仁新傳系學生實習習作

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11st March 2014 reported by Poon Man Ting

The president of The Taxation Institute of Hong Kong, Joseph Yau, said that broadening the tax base is a must for Hong Kong, but it is not likely to happen in coming few years.

He said, the growing ageing population is the most serious issue our generation will be facing, broaden the tax base can ensure a stabilize and predictable future income, which can help to ease the influence of the ageing population.

Yau said, there are many issue to be discussed before change a tax system, for example, there are seven steps to be achieved before we can broaden our tax base. Therefore, he said even the planning stage start at 2017; there are still 2 to 3 years to go, before it can put into practice.

Besides, he said the giveaway budget from government should be avoided, as it cannot help much to improve the economy.

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