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The United Sates and Singapore recently introduced tax reforms on top earners by virtue of increasing government revenue. Hong Kong has no urge to broaden the tax base in light of a large fiscal surplus. While the Government has been racking nerves to tackle the risks of long-term budget deficit, increasing the tax revenue from the rich and redistributing it to the lower-income groups is expected to narrow the wealth gap. But will the ‘capital punishment’ work, or is it just a utopian idea?
The full version of the commentary is in Chinese only.