The amendment bill to facilitate the launch of a new two-tier profits tax system is expected to be tabled at the Legislative Council by year's end.
Chief Executive Carrie Lam made the statement to the media before today's Executive Council meeting, saying the Government is implementing some of the new initiatives in the 2017 Policy Address.
Mrs Lam said the Government aims to launch the new profits tax system in April when the new year of assessment starts.
She called on legislators to examine the amendment bill with efficiency.
At the Summit on New Directions for Taxation held yesterday, the Government announced that it will launch the new profits tax system in April, reducing tax rate for the first $2 million of company profits from 16.5% to 8.25%.
