Budget 2023: Corporate

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

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