Hong Kong Budget 2024. Fiscal reserves will also decrease to $762.9 billion, equivalent to 12 months of government expenditure. Revenue from land premium is $19.4 billion, substantially lower than the original estimate by $65.6 billion and also far lower than the previous year.
Hong kong’s finance chief paul chan will face some tough choices plugging a deficit expected to exceed hk$100 billion for the second consecutive year when he unveils his budget on wednesday. Mr president, honourable members and fellow citizens, i move that the appropriation bill 2024 be read a second time.
Fiscal Reserves Will Also Decrease To $762.9 Billion, Equivalent To 12 Months Of Government Expenditure.
Total government revenue for 2024‑25 is estimated to be $633 billion, while earnings and profits tax are estimated to be $279.6 billion, increasing by 6.8 per cent over the revised estimate for 2023‑24.
Financial Secretary Paul Chan Delivers His Address.
Board estimates 46 million tourists will visit this year, 35 per cent higher.
Revenue From Land Premium Is $19.4 Billion, Substantially Lower Than The Original Estimate By $65.6 Billion And Also Far Lower Than The Previous Year.
Images References :
City Expects Hk$101.6 Billion Deficit As Land Sales Revenue Dip City’s Economy Grew By 3.2% Last Year, Inflation ‘Moderate’
Revenue from land premium is $19.4 billion, substantially lower than the original estimate by $65.6 billion and also far lower than the previous year.
Financial Secretary Paul Chan Delivers His Address.
Hong kong faces another hk$100 billion deficit, as finance secretary paul chan delivers the 2024 budget.
Reducing Profits Tax, Salaries Tax And Tax Under Personal Assessment For The Year Of Assessment 2022/23 (The Relevant Legislation For The Tax Reduction Was Passed By The Legislative Council And Gazetted On 28 April 2023.)