In her maiden policy address today, Wednesday Oct 11, Hong Kong Chief Executive Carrie Lam announced a series of measures to help develop Hong Kong into a smart city, including a tax deduction of 300-per-cent on the first HK$2 million spent on R&D, with a 200-per-cent deduction applied to any further spending as reported by the Straits Times and broadcaster rthk.
A cut in Corporation tax to 8.25-per-cent on the first HK$2 million of company earnings was also reported.
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