香港稅制日趨繁複,預算案呈現改革契機

財政預算案即將在3月19日頒布，各方爭相獻策，對香港稅制提出建議。眾多提案中, 以David Webb先生的改革建議最合乎情理, 亦與筆者的理念最接近:

•    美國萬稅勞民傷財，香江窄基造福人群 – “香港係絕對唔應該引進增值稅（value added tax）呢個只會為會計師行增加收入但對經濟效率大大打擊嘅累贅”
•    置業退稅對租樓無援：政策傾斜是否應該 – “再進一步，財爺甚至可以喺廢除置業利息扣稅嘅同時幫助租樓人士喺薪俸稅／個人入息稅內扣除一部分租金支出。”(早會計師公會八年)
•    下任特首應做嘅樓市課稅及制度改革 – “廢除印花稅—印花稅係過時產品，既提高交易成本又減低市場透明度……改革差餉—印花稅嘅損失，可以係差餉嘅得著！”

筆者亦將會在此議題上另撰文章，對香港稅制在新國際環境下的表現作出分析，敬請留意。

Hong Kong's increasingly complex tax system is overdue for reform

Ahead of the Budget Speech on March 19, fiscal proposals of all shapes and forms are flourishing once again. Of all the offerings out there, we believe Mr. David Webb's proposals stand out as the most sensible and close to your writer’s own suggestions in various articles published over the years:

• Harms ofplentiful US Taxes vs Joys of a narrow HK tax base - "Hong Kong should absolutely not introduce VAT (value added tax) given it not only benefits accounting firms but damages economic efficiency."

• Mortgage interest tax unfair to renters, should policy bias be avoided? -" The Financial Secretary could help citizens … by abolishing the mortgage interest tax deduction"
(your author proposed this 8 years before the HKICPA!)

• The tax reforms a new chief executive should undertake - "The government should abolish stamp duty …as it raises transaction costs and lowers market transparency...... The loss from the abolition of stamp duty could be made up from increased rates"

Your author will pen another article on Hong Kong's tax system in the context of the new competitive international fiscal competition, stay tuned.