The Hong Kong Inland Revenue Department has issued a release announcing the passage of Inland Revenue (Amendment) (Tax Concessions) Bill 2020 by the Legislative Council on 10 June 2020. The new Ordinance gives effect to the tax concessions proposed by the Government in the 2020-21 Budget, i.e., reducing salaries tax, tax under personal assessment, and profits tax for the year of assessment 2019/20 by 100%, subject to a ceiling of HKD 20,000 per case.