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Adopt the Hong Kong Method of taxes

Submitted on Monday 8th August 2011

Published on Monday 15th August 2011

Current status: Closed

Closed: Wednesday 15th August 2012

Signatures: 6

Tagged with

Economy ~ Money ~ Tax

Petition Action

Adopt the Hong Kong Method of taxes

Additional Information

Why dont we adopt the Hong Kong method of tax?
China, Russia and some baltic States adopted it and they have seen Economic Growth rates of 8-12% a year

Only the rich pay tax and is no more than 20%, no capital gains tax, no inheritance tax,

As a result Hong Kong actually gets more revenue now from their new system then when they had a system of taxes like ours

You wont need as many civil servants to collect taxes hence will help make the cut backs you need in the public sector.

People will have more disposable income to help kick start the economy, they will want to work longer hours as all the money they make will be theirs


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