Daiwa Research said the 2017/18 budget offered a range of relief measures very similar to last year, including a 75% waiver on salaries tax, a waiver on government rates for 4 quarters, widening salaries tax bands and an
increase in a few tax allowances.
Meanwhile, no further tightening measures have been rolled out for the property market.
Daiwa said the overall fiscal impact on GDP growth will be broadly neutral or slightly restrictive, which is understandable as the government goes through a transition this year.
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