Hong Kong Considering Taxing Profits Generated by Robots to Offset Unemployment

Published by , April 2, 2018 12:12 pm

(SouthChinaMorningPost) The Hong Kong government is considering the impact of artificial intelligence on human employment. One way to amend the tax losses is by taxing profits generated from using robots.
While gross domestic product may rise and corporations will generate higher profits because of the lower labour costs, the government will collect less from salaries tax (given that more people will be jobless). Any responsible government must address the gap between the interests of potentially displaced workers and those of shareholders and corporate management.

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