Inland Revenue (Amendment) (Tax Concessions, Concessionary Deductions and Allowances) Bill 2026 to be gazetted
The Inland Revenue (Amendment) (Tax Concessions, Concessionary Deductions and Allowances) Bill 2026 will be gazetted on March 6 to implement the concessionary tax measures proposed in the 2025 Policy Address and the 2026-27 Budget.
These measures include the following adjustments to salaries tax and tax under personal assessment, with effect from the year of assessment 2026/27:
(a) increasing the basic allowance and single parent allowance from $132,000 to $145,000 and the married person's allowance from $264,000 to $290,000;
(b) increasing dependent parent/grandparent allowances and the additional dependent parent/grandparent allowances for each eligible parent/grandparent from $50,000 to $55,000 (for dependents aged 60 or above, or disabled) and from $25,000 to $27,500 (for dependents aged 55 or above but below 60);
(c) raising the deduction ceiling for elderly residential care expenses for each eligible parent/grandparent from $100,000 to $110,000;
(d) extending the claim period for additional child allowance for newborns from one year to two years; and
(e) increasing the child allowance and additional child allowance for newborns from $130,000 to $140,000.
Measures in (a) will benefit about 2.09 million taxpayers and reduce tax revenue by $3.56 billion annually. Measures in (b) and (c) will benefit about 830 000 taxpayers and reduce tax revenue by $970 million annually. Measures in (d) and (e) will benefit about 360 000 taxpayers and reduce tax revenue by about $980 million annually. Measure (d) was proposed in the 2025 Policy Address while others are in the 2026-27 Budget.
The Bill will also implement the one-off reduction of salaries tax, tax under personal assessment and profits tax for the year of assessment 2025/26 by 100 per cent, subject to a ceiling of $3,000 per case, as proposed in the 2026-27 Budget. The reduction will be reflected in taxpayers' final tax payable for the year of assessment 2025/26. The proposal will benefit about 2.12 million taxpayers of salaries tax and tax under personal assessment, and about 170 800 tax-paying corporations and unincorporated businesses. The revenue forgone is about $5.78 billion.
The Bill will be introduced into the Legislative Council for first reading and the commencement of the second reading debate on March 18.
Photo source: Design image
DH cracks down on illegal online sale of controlled anti-obesity medicine
The Department of Health (DH) discovered suspected illegal online sale of a controlled anti-obesity medicine and carried out an enforcement operation with the Police today (March 4) in Mong Kok district, arresting a 30-year-old woman suspected of illegally selling Part 1 poisons and unregistered pharmaceutical products.
Following up on a complaint, the DH obtained the anti-obesity medicine (see photos) via an instant messaging application. The label of the product, written in Japanese, indicated that it contained tirzepatide, a substance classified as Part 1 poison under the Pharmacy and Poisons Ordinance (Cap. 138) (PPO).
The product is suspected to be an unregistered pharmaceutical product in Hong Kong. The DH will continue to investigate the incident.
Tirzepatide is used for the treatment of obesity, and its side effects include hair loss, nausea and diarrhoea. Medicines containing tirzepatide should be used under a doctor's direction and must be supplied on the premises of an Authorized Seller of Poisons (commonly known as a pharmacy) under the supervision of a registered pharmacist upon a doctor's prescription.
The DH strongly urged members of the public not to self-purchase or consume products of doubtful composition or from unknown sources. Purchasing controlled medicines (including slimming drugs) online poses health risks. Besides the lack of a doctor's assessment of an individual's health condition, it is difficult to ascertain the legitimate source of the drugs. It is also impossible to know whether the drugs were properly stored during transportation (especially for drugs requiring cold-chain storage). This leaves their safety, quality and efficacy unguaranteed.
The DH also reminded the public that selling medicines controlled under the PPO illegally, regardless of the sales channel (including online sales platforms, instant messaging applications or social media), carries criminal liability. Do not risk breaking the law.
According to the PPO, all pharmaceutical products must be registered with the Pharmacy and Poisons Board of Hong Kong before they can be legally sold in the market. Additionally, pharmaceutical products containing Part 1 poisons could only be sold at the registered premises of a pharmacy under the supervision of a registered pharmacist. If any contravention of the law is suspected, the DH will follow up and carry out enforcement action. After seeking advice from the Department of Justice, prosecutions against relevant persons may be initiated. Illegal sale or possession of unregistered pharmaceutical products or Part 1 poisons are criminal offences. The maximum penalty for each offence is a fine of $100,000 and two years' imprisonment.
The DH reminded the public that all registered pharmaceutical products should carry a Hong Kong registration number on the package in the format of "HK-XXXXX". The safety, quality and efficacy of unregistered pharmaceutical products are not guaranteed.
Weight control should be achieved through a balanced diet and appropriate exercise. The public should consult healthcare professionals before consuming any medication for weight control. They may visit the website of the Drug Office of the DH for "Health message on overweight problem and slimming products" for information.
DH cracks down on illegal online sale of controlled anti-obesity medicine Source: HKSAR Government Press Releases
DH cracks down on illegal online sale of controlled anti-obesity medicine Source: HKSAR Government Press Releases
