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It is thus, momentous to be aware of our weakness and ensure sustainable growth and competitive position in the world stage. A truly strong economic structure and foundation are also necessary to handle any negative impacts from future unexpected economic and financial crisis. Therefore, in this extended essay, I will examine the tax system of Hong Kong and identify any weakness that may in the future hinder Hong Kong’s economic growth. After deliberations on this issue, I would evaluate the proposal by some academics and the government to broaden the tax base in Hong Kong- whether this is necessary, and what the potential impacts are...
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