Tag: budget

HK's financial secretary is injecting HK$1.5bn into a scheme that helps Hong Kong businesses expand into mainland China, as Paul Chan predicts 2% to 3% GDP growth this year.

As operational costs remain high, businesses are looking for funding relief from the SAR's upcoming budget, according to DBS; meanwhile, some firms are looking to expand abroad into Asia and the Middle East.

The 2025 Budget is bringing tax cuts, support for households, tax incentives for equities, more climate measures and support for AI; Singapore saw 4.4% GDP growth in 2024.

The government has allocated money for clean energy and startups, while the Reserve Bank of India is expected to cut rates later this week.

Financial secretary Paul Chan scraps property cooling measures and sees 2.5% to 3.5% GDP growth in 2024 with underlying inflation flat at 1.7%.

Large corporates in India could be facing hidden corporate taxes, increased CSR scrutiny and might need to brace for lower consumer spending.

Companies setting up treasury centres in Hong Kong could be given greater scope to benefit from half-rate tax concessions, CT has learnt. However, it seems, the regulators are keen for companies to set up legal entities in the city to enjoy the tax perks.

Treasurers are broadly pleased with Hong Kong’s recent tax proposals to attract treasury centres, but they fear more needs to be done to differentiate the city from Singapore and Shanghai.

An EY study seen by CT shows the data forming Hong Kong’s policy to become a destination for corporate treasury centres.

India’s finance minister detailed provisions of goods and services tax reforms in the 2014-2015 budget; The CBRC has issued rules to implement a Chinese wall around wealth management divisions; and the Shanghai free trade zone has implemented judicial reforms.