HONG KONG: Hong Kong’s government is exploring options to raise taxes on the city’s highest earners for a second straight year to plug shortfalls in its budget, according to people familiar with the matter.
During consultation with members of the public in recent weeks, Hong Kong’s officials floated the idea of raising the 16% tax rate on the top income band of HK$5mil or more, said the people, who asked not to be identified discussing private information.
