9.
Other tax cuts abolish taxes on non-luxury items
which
namely
diesel fuel
affect
the
of cost
living
soft
and drinks
cinema
is
for abolished
for ordinary families,
tickets. And the duty on
franchised
bus companies,
helping to keep bus fares down.
*
10.
There will be modest
increases in profits tax
(+18) and the rates (+0.5%), which will not damage Hong
firms'
competitiveness.
[The
effect
of the rates
Kong increase on inflation is negligible, at 0.14% on CPI(A).
It equals $43 a month extra for average private flat, $15 a
month for
average
HA
flat.]
raise will
These and
other revenue
an additional $3.8 billion in a full
measures
year.
11.
The
Budget's
five tax
will
The net additional revenue, therefore
concessions
dost
is
$2.1 billion.
$1.7 billion in a full year.
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