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Hong Kong’s HKICPA urges tax breaks and listing reforms for Northern Metropolis

The Northern Metropolis plan targets 30,000 hectares near the mainland border, with HKICPA calling for loss-offset incentives for investors backing early-stage start-ups.

Reported · Written up by our desk · China

Hong Kong’s Institute of Certified Public Accountants, HKICPA, has urged the government to introduce tax incentives to support the Northern Metropolis project and to strengthen the city’s stock exchange listing regime, in a submission for Hong Kong’s first five-year plan, according to SCMP Economy.

HKICPA said many start-ups require long-term funding and can incur losses before becoming profitable, and it recommended that any tax incentives be structured so investors can use losses from those investments to offset other profits. The organisation also suggested offering lower tax rates for workers based in the Northern Metropolis.

The Northern Metropolis initiative is intended to convert 30,000 hectares near the border with mainland China into a technological and economic hub. Hong Kong is set to unveil its five-year plan in September, aligning the city’s priorities with China’s 2026 to 2030 development blueprint, SCMP Economy reported.

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