Compared to 2019, the Hong Kong economy contracted by 9% in the second quarter of 2020. Some commenters believe the current contraction of Hong Kong economy would be mitigated if the government take actions to further increase the competitiveness of Hong Kong.

The Hong Kong government approaches you for advice.

Required:

From a tax perspective, discuss TWO recommendations or options that you would advise to the Hong Kong government for her exploration to further increase the competitiveness of Hong Kong economy, with justifications and arguments to support the validity of your recommendations and options.