Economy

Markets

Industries

Insights

Reports

Events

500,000 HK taxpayers to receive tax rebates

(Xinhua)
Updated: 2009-05-31 13:29

Hong Kong Financial Secretary John Tsang estimated Saturday that 500,000 taxpayers in Hong Kong will receive rebate cheques in September, while 800,000 will not have to pay tax for the year.

Speaking on a radio show, Tsang said he was confident that the relief measures announced recently will help people weather the economic downturn.

Related readings:  CCTV ranked as top taxpayer  Chinese government offers 120b yuan in tax cuts in Q1  Potential of property tax

"We will finish evaluation in September and by then around 500,000 taxpayers will receive their rebate, while 800,000 will not have to pay tax for the financial year," he said.

He emphasized no relief measures can cover everyone directly but those like assisting small and medium-sized enterprises getting loans from banks will indirectly help 140,000 people keep their jobs.

"We will closely monitor the economy's development. We expect the deterioration will slow down in the second half of the year. But if things worsen, we will consider carrying out more relief measures," he said.

"With the ones we have already announced, I am confident we will be able to help everyone get through the year," he added.