HONG KONG
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From Times Staff and Wire Reports
Higher Taxes on Corporations, Property Owners Weighed: Anticipating a need for increased spending on social welfare and public works projects, government officials are considering proposed increases in taxes on corporations and property owners. Financial Secretary Hamish Macleod recently proposed a 19% increase in public spending during a recent session of Hong Kong’s Legislative Council. Macleod also proposed raising taxes on alcohol and tobacco products and called for a luxury-boat fuel surcharge.
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