Terms of Reference

Under the principle of maintaining a low and simple taxation regime and preserving Hong Kong's competitiveness,

(a)

to consider what types of broad-based taxes (including consumption-related taxes) may be suitable for introduction in Hong Kong, taking into account the following considerations:

  • revenue productivity on a recurrent basis
  • revenue productivity less sensitive to economic cycles
  • the burden on the economy
  • the impact of the development of electronic commerce
  • cost-effective to administer
  • simple to comply with
  • equitable
(b) in the light of the findings at (a) above, to advise on the implementation of the identified specific broad-based taxes
(c) to solicit views from the Legislative Council, the community at large and interested parties

(d) to submit to the Financial Secretary a progress report by November 2000 and the final report by the end of 2001.

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