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Hong Kong’s property barons set to benefit from affordable housing drive

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  1. #21

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    Quote Originally Posted by nivek2046:
    how then do we broaden the tax base then?

    VAT/GST are out of the question, since the gap between the rich and the poor is high.

    The CCP must have a plan to get more money from the tycoons for the
    "commom presperity". what is it?
    It's not really possible unless the government gives massive rebates to people who have paid the biggest tax bill of their life in the form of their property.

    Otherwise anyone who has bought a flat within the past few decades has indirectly paid a huge land premium plus whatever additional taxes are levied. Any tax on the rich will destroy one of HK's biggest advantages and any other tax will squeeze the middle class who already carry a heavy burden.
    shri likes this.

  2. #22

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    Quote Originally Posted by aw451:
    It's not really possible unless the government gives massive rebates to people who have paid the biggest tax bill of their life in the form of their property.

    Otherwise anyone who has bought a flat within the past few decades has indirectly paid a huge land premium plus whatever additional taxes are levied. Any tax on the rich will destroy one of HK's biggest advantages and any other tax will squeeze the middle class who already carry a heavy burden.
    sorry, i don't understand the highlighted bit.. please elaborate.. thanks

  3. #23

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    Quote Originally Posted by nivek2046:
    sorry, i don't understand the highlighted bit.. please elaborate.. thanks
    Hong Kong is a tax haven in an area with competition. If we start levying ever higher taxes, the wealthy will just move to Singapore.
    nivek2046 likes this.

  4. #24

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    Quote Originally Posted by aw451:
    Hong Kong is a tax haven in an area with competition. If we start levying ever higher taxes, the wealthy will just move to Singapore.
    Manufacturing and industry is mistakenly attributed as factors for Hong Kong's growth when the reality is money-laundering and tax evasion is what put HK on the map and has kept it there.
    Skyhook and Coolboy like this.

  5. #25

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  6. #26

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    Quote Originally Posted by ramelec:
    I can't stand listening to her anymore. I just change channels whenever she is on TV.
    Elegiaque likes this.

  7. #27

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    I don't know who is more cringeworthy - Lam or Yonden Lhatoo...

    Coolboy likes this.

  8. #28

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    May 2021
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    The former has gone beyond that status long back, there is something about the later one (in last 2 yrs) that makes even Nuri look like a saint and repulsive is the right word, i think..


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