Hong Kong should reform tax code to spur entrepreneurship amid slumps and help city catch up with regional rivals

Hong Kong’s government, owner of one of the world’s largest currency reserves, should consider amending its tax code to let companies transfer losses among units, so that it can maintain the financial centre’s competitiveness with regional rivals, an advisory body said.The city can consider a group tax loss regime similar to the one enacted in Singapore in 2003, allowing businesses to claim tax losses from the previous year, according to a proposal yesterday (on Thursday) by the Financial…

from South China Morning Post https://www.scmp.com/business/companies/article/3096347/hong-kong-should-reform-tax-code-spur-entrepreneurship-amid