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The 2024-25 Hong Kong Budget unveils a series of strategic policies and initiatives centred around revitalising the Hong Kong economy. The policies include those aimed at bringing in capital, enterprises and talent. In this article, we highlight some of the key initiatives which may be of interest to employers and employees. Salaries Tax The Budget proposes a 100% reduction in the salaries tax payable for 2023-24, subject to a ceiling of HKD 3,000 (approximately EUR 356)….
On 4 January 2023, Hong Kong’s Court of First Instance refused to grant a ‘springboard injunction’ against a former employee to protect the employer’s confidential information. Background A former employee of DCL Communications left DCL in 2019, and more than 18 months later joined a competitor, Reach Technology Solutions Limited. Both DCL and Reach were in the business of providing services relating to IT infrastructure….
Over the past weeks, there has been some important news on the pension regime in Hong Kong that employers and employees should be mindful of. Abolition of the offsetting mechanism from 1 May 2025 As we noted in our last article, the Hong Kong Legislative Council haspassed legislation abolishing the MandatoryProvidentFund (‘MPF’)offsetting mechanism. At a Labour Day reception held on 28 April 2023, the Chief…