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2016 management for development results seminar : Session VIII presentation by Hong

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Frame of Image rawing up its budget • Strive to achieve a fiscal balance, avoid deficits • Keep the budget commensurate with the growth rate of its gross domestic product
3
Over time, government revenue has grown in line with GDP but government expenditure has surpassed GDP growth
Cumulative growth (%) 130 120 110 100 90 80 70 60 50 40 30 20 10 0 -10 -20 -30 -40 % growth since 1997-98 2014-15 (Actual) 64.3 70.2
104.2 70.2
Nominal GDP Government revenue
Recurrent government expenditure
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Nominal GDP
#Government
Government revenue
Recurrent government expenditure
expenditure includes repayment of bonds and notes. 4
Tax Collections a Major Source of Government Revenue
($HK b)
400
Government General Revenue
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398
300
200
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Inland Revenue Department Collections
Other General Revenue
5
Inland Revenue Department of Hong Kong
• An administrative department under the purview of the Financial Services and the Treasury Bureau • Vision
Aim to be an excellent tax administration that plays an important part in promoting Hong Kong’s prosperity and stability
6
Performance Targets and Results Open to Public Scrutiny
Selected Performance Targets (from about 40 targets)
Assessments made within 9 months Corporate profits tax Individual profits tax Salaries tax Property tax Written enquiries Replies to simple en


Full Text
Title 2016 management for development results seminar
Similar Titles
Sub Title

Session VIII presentation by Hong

Material Type Proceedings
Author(English)

Tam, Tai-Pang

Publisher

[Wan Chai, Hong Kong]:Inland Revenue Department

Date 2016-07
Event

Secretariat of Finance and Public Credit

Pages 37
Subject Country Hong Kong(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Economy < Economic Administration
Holding Inland Revenue Department