Christopher Hui: Inland Revenue Amendment Bill to set preferential tax regime for qualifying enterprises planned for submission by end of this year

Secretary for Financial Services and the Treasury Christopher Hui told the Legislative Council Panel on Financial Affairs that the government plans to submit an Inland Revenue Amendment Bill in December this year to establish a "preferential tax regime" to promote industries and investment, with formal implementation expected in 2027/28. The preferential tax rate will be 5 per cent or half rate, which for corporations means 8.25 per cent, with a qualifying period of up to 5 years.