Financial secretary Paul Chan announced the first financial budget after normalcy. As the deficit is serious, many measures have been cut or cancelled. We have the summary here:
- Reduce 100% of profit tax for the year of assessment 2022/2023 (Maximum: HKD 6,000)
- Reduce non-residential rate for the first 2 quarters of the year of assessment 2023/2024 (HKD 1,000 per quarter per flat)
- Reduce 75% of non-residential water and sewage tariff (HKD 20,000 and HKD 12,500 per month per flat respectively, effective until Nov, 2022)
- Reduce 50% of rent and relevant fee for government premise tenants (Effective from July 2023 to Dec 2023)
- Extend the application deadline of “SME Financing Guarantee Scheme” to March, 2024. Include “Special 100% Loan Guarantee”
- Provide 100% loan guarantee to qualified passenger transport operators and licensed travel agencies.
- Inject $500 million to the BUD Fund expedite the processing of applications
BizMagnet government fund consultant helps Hong Kong companies to apply for TVP, BUD Fund and EMF etc. We also recommend quality suppliers to help you to brand, upgrade and sell.
