The Hong Kong Institute of Certified Public Accountants (HKICPA) has voiced support for the Hong Kong Government’s 2026-27 Budget, presented by Financial Secretary Paul Chan on 25 February.

The institute described the Budget proposals as “concrete and pragmatic” in supporting economic transformation in Hong Kong. They also align with the objectives of the national 15th Five-Year Plan, the accounting body said.

The HKICPA noted that a number of its prior recommendations have been added. These include initiatives to advance digitalisation and to encourage the development and use of AI and quantum computing.

The Budget also seeks to further develop commodities trading including gold by introducing additional tax incentives. It proposes a review and refinement of tax arrangements related to research and development expenditure.

Other proposed tax measures include extending the range of qualifying investments that can benefit from family office tax concessions.

The government also plans to support the intellectual property (IP) sector by examining tax deductions for IP acquisitions.

Authorities will study possible amendments to the stamp duty ordinance to relax restrictions on intra-group relief.

HKICPA president Stephen Law said: “We broadly welcome the measures proposed in the Budget, many of which are consistent with the directions recommended by the HKICPA and will help enhance Hong Kong’s long-term competitiveness.”

The Budget also contains measures intended to support the internationalisation of the Renminbi.

In addition, the fiscal plan includes steps to help mainland enterprises make use of Hong Kong as a base to “go global”.

The Financial Secretary forecast an estimated fiscal surplus of HK$2.9bn ($370m) for the 2025–26 financial year.

The HKICPA said this is slightly higher than its earlier projection.