can-a-goods-and-services-tax-be-good-for-you

Can a goods and services tax be good for you?

The Hong Kong government proposes to impose a consumption tax that may actually help businesses in the long run. Citigroup analysts point out the positive sides of the proposal.
If the Hong Kong government does eventually impose a consumption tax on Hong Kong, how will it work And will it be any good

The government recently published a consultation paper on a consumption tax, or a goods and services tax GST û and barring any hiccups it plans to start to levy the GST in 2011. It is proposing a single-rate GST at 5% with a few exemptions, such as relief for low-income households. The government estimates the tax could raise HK$30 billion $3.8 billion in revenue a year.

Analysts say businesses and the average tax payer in Hong Kong could benefit.

The idea is to introduce the consumption tax so as to...
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