The Hong Kong Inland Revenue Department (IRD) has announced the passage of the Inland Revenue (Amendment) (Tax Concessions) Bill 2025 by the Legislative Council on 30 April 2025. The legislation provides for the one-off reduction of profits tax, salaries tax, and tax under personal assessment for the year of assessment 2024/25 by 100%, subject to a ceiling of HKD 1,500 per case, which was announced as part of the 2025-26 Budget. --- Government welcomes passage of Inland Revenue (Amendment) (Tax Concessions) Bill 2025 The Government welcomed the passage of the Inland Revenue (Amendment) (Tax Concessions) Bill 2025 by the Legislative...