"Hong Kong's simple tax system with low tax-rate has historically served us well and has been one of the jewels in Hong Kong's crown. However, the revenue legislation has not been reviewed in depth for nearly 40 years. Hong Kong tends to adopt the position reflected in the saying, "if it ain't broke don't fix it." Only piecemeal changes have been made in response to pressure and lobbying from different interest groups..."
"In other words, Hong Kong's attraction as low-tax regime has diminished significantly."
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Credits: Anthony Tam for A+ Magazine, March 2016 issue