Officials have left open the possibility of introducing a sales tax amid fears the Government might continue to spend more than it raises in tax.
A government source said the estimated $6 billion deficit for the financial year might rise to $11 billion because of the lower-than-expected revenue from privatisation of the Mass Transit Railway Corporation.
The government has launched a public consultation on a goods and services tax.
hand out goodies
granting tax relief for the parents of students taking associate degrees
a bursting of the asset bubble in the United States
Calls for the government to reduce taxes have intensified.
air passenger departure tax
Hong Kong has been considering introducing a GST to broaden its tax base and bring in more revenue.
Hong Kong Taxation Institute vice-president Chiu Sin-koi
Taxation Institute of Hong Kong president Marcellus Wong Yui-keung
personal assessment and property tax
juggle its budget
Secretary for the Treasury Denise Yue Chung-yee
Deputy Secretary for the Treasury Carrie Lam Cheung Yuet-ngor
cross-harbour tunnel passage tax
Mr Tang was asked by reporters whether the GST would be introduced during this legislative year or next year.
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