Overall consumer prices rose 1.5% in June, year on year, higher than the 1.2% increase in May.Netting out the effects of the Government’s one-off relief measures, underlying inflation was 1%, the same as in May.Compared with June last year, price increase...
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The Companies Registry announced that 66,734 local companies were newly registered during the first half of 2024, bringing the total number of registered local companies to 1,440,935, an all-time high figure.Meanwhile, 501 non-Hong Kong companies have new...
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The seasonally adjusted unemployment rate stood at 3% for the period between April and June, unchanged from the March-to-May figure.The underemployment rate also remained unchanged, at 1.2%.Total employment increased by around 6,400 to 3,703,300, while th...
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The Land Registry logged 5,245 sale and purchase agreements for all building units received for registration in June, down 28.7% compared with May but 9.8% higher year-on-year.The total consideration for such agreements in June dropped 34% from May, to $4...
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The value of total retail sales in May, provisionally estimated at $30.5 billion, decreased 11.5% compared with the same month last year.After netting out the effect of price changes over the same period, the provisional estimate of the volume of total re...
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The value of Hong Kong’s total exports increased to $375.9 billion in May, up 14.8% on the same month last year.The value of imports of goods increased 9.6% to $388.1 billion in the same period.A trade deficit of $12.1 billion, or 3.1% of the value of imp...
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Overall consumer prices rose 1.2% in May year-on-year, slightly up from the 1.1% increase in April.Netting out the effects of the Government’s one-off relief measures, underlying inflation was 1%, also slightly higher than the 0.9% increase in April.Compa...
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The seasonally adjusted unemployment rate stood at 3% for the period between March and May, unchanged from the February-to-April figure.The underemployment rate increased 0.1 percentage points to 1.2%.Total employment increased by around 2,800 to 3,696,90...
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Hong Kong was ranked the fifth most competitive economy by the International Institute for Management Development in its World Competitiveness Yearbook 2024, up two places from last year.Among the four competitiveness factors, Hong Kong's rankings in busi...
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The Monetary Authority announced Hong Kong’s foreign currency reserve assets increased to US$417.2 billion in May from $416.4 billion in April.The reserve assets represent over five times the currency in circulation or about 39% of Hong Kong dollar M3.Inc...
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The Land Registry logged 7,361 sale and purchase agreements for all building units received for registration in May, down 25.5% compared with April but 39.3% higher year-on-year.The total consideration for such agreements in May dropped 25.8% from April, ...
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Overall consumer prices rose 1.1% in April year-on-year, smaller than the 2% increase in March.Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 0.9%, also smaller than March's 1% increase.Compared with...
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The value of total retail sales in March, provisionally estimated at $31.2 billion, was down 7% compared with the same month in 2023.After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail...
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Hong Kong’s economy grew 2.7% in the first quarter of 2024 over the same period a year earlier, down from a 4.3% increase in the fourth quarter of 2023.According to advance estimates, gross domestic product (GDP) increased by 2.3% in real terms in the fir...
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The Government announced that based on the Organisation for Economic Co-operation & Development's (OECD) recommendation, Hong Kong is amending the lists of jurisdictions on automatic exchange of financial account information in tax matters (AEOI) under th...
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The value of residential mortgage loans approved in March was $19.1 billion, a 6.2% increase compared with February.Mortgage loans financing primary market transactions rose 27% to $6.8 billion, while those financing secondary market transactions dipped 2...
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The value of Hong Kong’s total exports increased to $384.5 billion in March, up 4.7% on the same month last year.The value of imports of goods increased 5.3% to $429.5 billion in the same period.A trade deficit of $45 billion, or 10.5% of the value of imp...
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Overall consumer prices rose 2% in March year-on-year, slightly up from the average 1.9% rate of increase for January and February.Netting out the effects of the Government’s one-off relief measures, underlying inflation was 1%, also slightly higher than ...
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The value of residential mortgage loans approved in February was $17.9 billion, a 15% drop compared with January.Mortgage loans financing primary market transactions decreased 15% to $5.3 billion, while those financing secondary market transactions dipped...
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The value of Hong Kong’s total exports decreased to $284.1 billion in February, down 0.8% on the same month last year.The value of imports of goods fell 1.8% to $325.7 billion for the same period.A trade deficit of $41.7 billion, or 12.8% of the value of ...
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Hong Kong maintained fourth place in the Global Financial Centres Index 35 Report published today by the UK's Z/Yen and the China Development Institute from Shenzhen.The Government said under the “one country, two systems” principle, Hong Kong enjoys the ...
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Overall consumer prices rose 2.1% in February year-on-year, larger than the increase registered in January.Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1.2%, also higher than January.As the Lunar N...
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The seasonally adjusted unemployment rate stood at 2.9% for the period between December 2023 and February 2024, unchanged from November 2023 to January 2024.The underemployment rate also remained unchanged, at 1%.Total employment decreased by around 2,300...
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The Government served a notice to the Legislative Council on March 6 to move a resolution under the Business Registration Ordinance (Cap. 310) (BRO) to increase business registration fees with effect from April 1, 2024. The Government will also publish in...
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A bill to implement the one-off tax concessions and two-tiered standard rates regime as proposed in the 2024-25 Budget will be gazetted on March 8 and introduced into the Legislative Council on March 20.The Budget has proposed one-off reductions of salari...
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Hong Kong signed a comprehensive avoidance of double taxation agreement (CDTA) with Bahrain, signifying the sustained efforts of the HKSAR Government in expanding Hong Kong's CDTA network, in particular with tax jurisdictions participating in the Belt and...
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The Land Registry recorded 3,189 sale and purchase agreements for all building units received for registration in February, down 27.5% compared with January and 46.7% lower year-on-year.The total consideration for such agreements in February fell 32.9% fr...
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The value of total retail sales in January, provisionally estimated at $36.5 billion, rose 0.9% compared with the same month in 2023.After netting out the effect of price changes over the same period, the provisional estimate represents a 1.2% year-on-yea...
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The Financial Secretary proposed a one-off reduction of profits tax, salaries tax and tax under personal assessment for the year of assessment 2023/24 by 100 per cent, subject to a ceiling of $3,000 per case. This measure will cost the Government $5.5 bil...
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The Financial Secretary has announced the 2024-25 Budget. Highlights as below:On Property Market:Special Stamp Duty, Buyers’ Stamp Duty and New Residential Stamp Duty for residential properties with immediate effectOn Stock Market:Introduce treasury share...
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The value of Hong Kong's total exports increased to $388.7 billion in January, up 33.6% on the same month last year.The value of goods imports increased 21.7% to $385.1 billion in the same period.A trade surplus of $3.6 billion, or 0.9% of the value of im...
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Consumer prices increased 1.7% year-on-year in January, a smaller increase than that registered in December 2023.Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 0.8%, also lower than that seen in Dece...
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The HKSAR Government welcomed the removal of Hong Kong from the European Union (EU)'s watchlist on tax co-operation in recognition of Hong Kong's efforts in ensuring that its foreign-sourced income exemption (FSIE) regime is in full compliance with the EU...
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The Census & Statistics Department announced that the seasonally adjusted unemployment rate stood at 2.9% for the period between November 2023 and January 2024, unchanged from the October to December period last year.The underemployment rate also remained...
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Invest Hong Kong (InvestHK) announced that it has assisted a licensed fintech company, EVIDENT Platform Services Limited (EVIDENT), to set up its global headquarters in Hong Kong, offering the world's first tokenised private limited partnership fund inves...
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The value of total retail sales in December, provisionally estimated at $36.3 billion, rose 7.8% compared with the same month in 2022.After netting out the effect of price changes over the same period, the provisional estimate represents a 4.8% year-on-ye...
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The Labour Advisory Board’s employer members and employee members reached a consensus today to relax the “continuous contract” requirement.Under the existing requirement, regardless of whether they are working full-time or part-time, employees employed by...
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The value of residential mortgage loans approved in December 2023 was $18.3 billion, a 25.3% decline compared with November 2023.Mortgage loans financing primary market transactions dropped 16.3% to $5.2 billion, while those financing secondary market tra...
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The Exchange Fund recorded an investment income of $212.7 billion in 2023, with an investment return of 5.2%.Commenting on the fund's investment results, the Monetary Authority's Chief Executive Eddie Yue said even though the investment environment in 202...
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The value of Hong Kong's total exports increased to $386.4 billion in December 2023, up 11% on the same month in 2022.The value of goods imports rose 11.6% to $446.3 billion for the same period.A trade deficit of $59.9 billion, or 13.4% of the value of im...
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Consumer prices increased 2.4% year-on-year in December, a slightly smaller decline than that registered in November.Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1.4%, also slightly lower than that...
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The seasonally adjusted unemployment rate stood at 2.9% in the three months from October to December, unchanged from the September to November period.The underemployment rate also remained unchanged at 1%.Total employment decreased by around 1,900 to 3,70...
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The total number of local companies registered in Hong Kong stood at 1,430,758 at the end of 2023, with 132,246 having been newly registered during the year.In 2023, 960 non-Hong Kong companies registered a newly established place of business in Hong Kong...
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Hong Kong’s foreign currency reserve assets rose to US$425.5 billion in December last year from November’s US$424.6 billion.The reserve assets represent over five times the currency in circulation or about 40% of Hong Kong dollar M3.There were no unsettle...
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The value of total retail sales in November, provisionally estimated at $34.2 billion, rose 15.9% compared with the same month in 2022.After netting out the effect of price changes over the same period, the provisional estimate represents a 12.4% year-on-...
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The value of Hong Kong’s total exports increased to $386.6 billion in November, up 7.4% on the same month last year.The value of goods imports increased 7.1% to $414.6 billion for the same period.A trade deficit of $27.9 billion, or 6.7% of the value of i...
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Consumer prices increased 2.6% year-on-year in November, a slightly smaller decline than that registered in October.Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1.6%, also slightly lower than that ...
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The seasonally adjusted unemployment rate stood at 2.9% in the three months from September to November, unchanged from the August to October period, the Census & Statistics Department announced today.The underemployment rate also remained at 1%.Total empl...
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The Intellectual Property Department today signed a memorandum of understanding (MOU) with the Intellectual Property Office of the Philippines (IPOPHL) to strengthen co-operation in the field of intellectual property (IP).The agreement aims to establish a...
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Hong Kong Special Administrative Region passport holders may now visit the Republic of Angola and the Kyrgyz Republic without a visa for up to 30 days, the Immigration Department announced today.The Hong Kong SAR Government received notification from the ...
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The value of total retail sales in October, provisionally estimated at $33.8 billion, rose 5.6% compared with the same month in 2022.After netting out the effect of price changes over the same period, the provisional estimate represents a 2.7% year-on-yea...
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The Government welcomed the passage of the Inland Revenue (Amendment) (Taxation on Foreign-sourced Disposal Gains) Bill 2023 by the Legislative Council that refines Hong Kong's foreign-sourced income exemption regime (FSIE).The refinement to the FSIE regi...
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Consumer prices increased 2.7% year-on-year in October, a larger rise than that registered in September.Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1.7%, lower than that seen in September.Compared...
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The seasonally adjusted unemployment rate increased 0.1 percentage points to 2.9% in the three months from August to October, compared to the figures for July until September.The underemployment rate remained unchanged at 1%.Total employment decreased by ...
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The Government welcomed the passage of the Stamp Duty (Amendment) (Stock Transfers) Bill by the Legislative Council on 15 November to give effect to the measure of reducing the rate of Stamp Duty on Stock Transfers to 0.1% as announced in the 2023 Policy ...
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Supported by inbound tourism and private consumption, Hong Kong’s economy continued to revive in the third quarter of 2023, with real gross domestic product (GDP) growing by 4.1% from a year earlier.Presenting the latest economic figures and the Third Qua...
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According to the Financial Secretary, despite the external headwinds, highly complex and changing circumstances, he expect the Gross Domestic Product growth to be over 3%. While it is a little lower than what he would like to see, the recovery is sustaini...
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The Monetary Authority announced Hong Kong’s foreign currency reserve assets increased to US$416 billion in October from US$415.7 billion in September.The reserve assets represent over five times the currency in circulation or about 40% of Hong Kong dolla...
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The Land Registry recorded 2,938 sale and purchase agreements for all building units received for registration in October, down 24.5% compared with September and 33.9% lower year-on-year.The total consideration for such agreements fell 2.5% from September...
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The value of total retail sales in September, provisionally estimated at $31.8 billion, rose 13% compared with the same month in 2022.After netting out the effect of price changes over the same period, the provisional estimate represents a 10.1% year-on-y...
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The Immigration Department announced that Hong Kong Special Administrative Region passport holders may now visit Georgia without a visa for up to 30 days.Including Georgia, 169 countries and territories allow visa-free or visa-on-arrival access to Hong Ko...
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Hong Kong’s economy continued to expand in the third quarter of 2023, registering a 4.1% increase from a year earlier.According to the advance estimates on gross domestic product (GDP) for the third quarter, on a seasonally adjusted quarter-to-quarter bas...
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The Monetary Authority announced that residential mortgage loans approved in September decreased 28.4% compared with August to $25.5 billion.Mortgage loans financing primary market transactions dropped 32.1% to $3.2 billion, while those financing secondar...
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Recognising the genuine difficulties being experienced by businesses and practitioners in their operations, the Inland Revenue Department has decided to extend the due date for filing 2022/23 Profits Tax returns with Accounting Date Code ‘M’ (i.e. account...
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Consumer prices increased by 2% in September year-on-year, a larger rise than that registered in August.Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1.8%, also larger than that seen in August.Compa...
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The seasonally adjusted unemployment rate stood at 2.8% in the three months from July to September, unchanged from the June to August period.The underemployment rate also remained at 1%.Total employment increased by about 5,800 to 3,720,300, while the lab...
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The Hong Kong Special Administrative Region Government said it will propose an amendment bill to refine Hong Kong's foreign-sourced income exemption (FSIE) regime by expanding the scope of its coverage. In relation to foreign-sourced disposal gains, the e...
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The value of total retail sales in August, provisionally estimated at $32.4 billion, rose 13.7% compared with the same month in 2022.After netting out the effect of price changes over the same period, the provisional estimate represents an 11% year-on-yea...
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Residential mortgage loans approved in August increased 26.9% compared with July to $35.6 billion.Mortgage loans financing primary market transactions dropped 19.8% to $4.7 billion, while those financing secondary market transactions rose 7.6% to $14.4 bi...
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The value of Hong Kong’s total exports decreased to $358.3 billion in August, down 3.7% on the same month last year.The value of goods imports decreased 0.3% to $383.9 billion for the same period.A trade deficit of $25.6 billion, or 6.7% of the value of i...
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The Census & Statistics Department announced consumer prices rose by 1.8% in August year-on-year, virtually the same as in July.Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 1.5%, slightly lower tha...
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The Monetary Authority announced that Hong Kong’s foreign currency reserve assets decreased to US$418.4 billion in August from US$421.6 billion in July.The reserve assets represent over five times the currency in circulation or about 40% of Hong Kong doll...
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The Monetary Authority announced that residential mortgage loans approved in July decreased 18.2% compared with June to $28.1 billion.Mortgage loans financing primary market transactions dropped 23.6% to $5.9 billion, while those financing secondary marke...
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Secretary for Financial Services & the Treasury Christopher Hui signed a comprehensive avoidance of double taxation agreement (CDTA) with Bangladesh on behalf of the Hong Kong Special Administrative Region Government.The CDTA, signed in Hong Kong, sets ou...
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The Census & Statistics Department announced that the value of Hong Kong's total exports decreased to $345.2 billion in July, down 9.1% on the same month last year.The value of goods imports decreased 7.9% to $375.1 billion for the same period.A trade def...
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The Census & Statistics Department announced that consumer prices rose 1.8% in July year-on-year, slightly down from the 1.9% increase in June.Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 1.6%, als...
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Led by inbound tourism and private consumption, Hong Kong’s economy continued to recover in the second quarter of 2023, with real gross domestic product (GDP) growing by 1.5% from a year earlier.Presenting the latest economic figures and the Half-Yearly E...
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The value of total retail sales in June, provisionally estimated at $33.1 billion, rose 19.6% compared with the same month in 2022, the Census & Statistics Department announced today.After netting out the effect of price changes over the same period, the ...
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Hong Kong’s economy continued to expand in the second quarter of 2023, registering a 1.5% increase from a year earlier, the Census & Statistics Department announced today.On a seasonally adjusted basis gross domestic product (GDP) decreased by 1.3% in rea...
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The Monetary Authority today announced that it has increased the base rate to 5.75% with immediate effect.The increase followed the 25-basis point upward shift in the target range for the US federal funds rate on July 26.The base rate is the interest rate...
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Overall consumer prices rose 1.9% in June year-on-year, slightly down from the 2% increase in May, the Census & Statistics Department announced today.Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 1....
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The Companies Registry today announced that 72,588 local companies were newly registered during the first half of 2023, bringing the total number of registered local companies to 1,416,643.Meanwhile, 422 non-Hong Kong companies have newly established a pl...
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The Monetary Authority today issued guidelines to banks regarding adjustments to the countercyclical macroprudential measures for mortgage loans.In a meeting with media today, Monetary Authority Chief Executive Eddie Yue said there was room to make the ad...
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The value of total retail sales in May, provisionally estimated at $34.5 billion, rose 18.4% compared with the same month in 2022, the Census & Statistics Department announced today.After netting out the effect of price changes over the same period, the p...
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The comprehensive avoidance of double taxation agreement with Mauritius that was signed in November 2022 came into force today, the Government announced.The agreement will have effect in respect of Hong Kong tax from April 1, 2024, it added.The agreement ...
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Overall consumer prices rose 2% in May year-on-year, slightly smaller than the 2.1% increase in April, the Census & Statistics Department announced today.Netting out the effects of the Government's one-off relief measures, the underlying inflation rate wa...
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Hong Kong was ranked the seventh most competitive economy by the International Institute for Management Development in its World Competitiveness Yearbook 2023, compared to fifth last year.Among the four competitiveness factors, Hong Kong continued to rank...
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The value of Hong Kong's total exports decreased to $338.3 billion in April, down 13% on the same month last year, the Census & Statistics Department announced today.The value of imports of goods decreased 11.9% to $374.9 billion for the same period.A tra...
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Overall consumer prices rose 2.1% in April year-on-year, larger than the 1.7% increase in March, the Census & Statistics Department announced today.Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 1.8%...
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The Government welcomed the passage of the Stamp Duty (Amendment) Bill 2023 by the Legislative Council today.The bill gives effect to a proposal on stamp duty in the Budget which adjusts the value bands of ad valorem stamp duty (AVD) payable for sale and ...
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The Monetary Authority today announced that it has increased the base rate to 5.5% with immediate effect.The increase followed the 25-basis point upward shift in the target range for the US federal funds rate on May 3.The base rate is the interest rate fo...
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The Census & Statistics Department announced the value of Hong Kong’s total exports decreased to $367.2 billion in March, down 1.5% on the same month last year.The value of imports of goods decreased 0.6% to $407.8 billion for the same period.A trade defi...
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Overall consumer prices rose 1.7% in March year-on-year, less than the 2.1% average rate of increase in January and February, the Census & Statistics Department announced today.Netting out the effects of the Government's one-off relief measures, the year-...
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Acting Secretary for Financial Services & the Treasury Joseph Chan welcomed the passage of the Inland Revenue (Amendment) (Child Allowance & Tax Concessions) Bill 2023 by the Legislative Council today.The passage of the bill gives effect to two proposals ...
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The Hong Kong Monetary Authority (HKMA) announced on 23 March that the Base Rate has been set at 5.25% with immediate effect according to a pre-set formula.The Base Rate is the interest rate forming the foundation upon which the Discount Rates for repurch...
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The Revenue (Reduction of Business Registration Fees and Branch Registration Fees) Order 2022 (“2022 Order”) will expire on 1 April 2023. For business or branch registration certificates which commence on or after that date, the prescribed business regis...
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The bulk issue of 2022/23 Profits Tax returns to corporations and partnership businesses, the files of which fall within the “active” category in the Inland Revenue Department, will take place on 3 April 2023.For taxpayers who are represented, the complia...
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In the 2023-24 Budget, the Financial Secretary proposed a one-off reduction of profits tax, salaries tax and tax under personal assessment for the year of assessment 2022/23 by 100 per cent, subject to a ceiling of $6,000 per case. The proposed tax reduct...
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The Mainland authorities in the Guangdong-Hong Kong-Macao Greater Bay Area's (GBA) Mainland cities introduced the exit endorsement for talent travelling to and from Hong Kong and Macau.The initiative will start on February 20 on a pilot basis to facilitat...
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The Monetary Authority today announced that it has increased the base rate to 5% with immediate effect.The increase followed the 25-basis point upward shift in the target range for the US federal funds rate on February 1.The base rate is the interest rate...
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The Companies (Amendment) Ordinance 2023 (“the Amendment Ordinance”) will come into operation on 28 April 2023.The Amendment Ordinance seeks to modernise the Companies Ordinance (Cap. 622) and the Companies (Model Articles) Notice (Cap. 622H) to expressly...
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The Inland Revenue (Amendment) (Taxation on Specified Foreign-sourced Income) Bill 2022 was passed by the Legislative Council on December 14 2022. The bill introduces a new foreign-sourced income exemption (FSIE) regime for passive income in Hong Kong, wh...
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The Anti-Money Laundering & Counter-Terrorist Financing (Amendment) Bill 2022 was passed on 7 December 2022.The bill reinforces Hong Kong’s status as an international financial centre by enhancing the city’s regulatory regime for combating money launderin...
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A majority of the offices of Units/Sections of the Inland Revenue Department in Revenue Tower, Wanchai will be relocated to the new Inland Revenue Tower in Kai Tak Development Area by phases by late 2022/early 2023.The new Inland Revenue Tower is located ...
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Hong Kong has signed a comprehensive avoidance of double taxation agreement (CDTA) with Mauritius on 7 November.This is the 46th CDTA that Hong Kong has concluded. It sets out the allocation of taxing rights between the two jurisdictions and will help inv...
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The Monetary Authority has increased the base rate to 4.25% with immediate effect.The increase followed the 75-basis point upward shift in the target range for the US federal funds rate on November 2.The base rate is the interest rate forming the foundati...
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Recognising the genuine difficulties being experienced by businesses and practitioners in their operations as a result of the recent situation of the COVID-19 epidemic, the Inland Revenue Department has decided to further extend the due date for filing 20...
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In an effort to attract more enterprises, investment and talent to Hong Kong, the Government will establish new institutional setups and implement an array of initiatives.The Government will establish the Office for Attracting Strategic Enterprises (OASES...
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To celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region (HKSAR), Invest Hong Kong will hold the Investment Promotion Week on 17-21 October, 2022 to promote the investment and business opportunities in Hong Kon...
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The European Union (EU) has always been committed to promote good tax governance standards in relation to tax transparency, fair taxation and anti-BEPS measures. The EU published a list of non-cooperative jurisdictions in October 2021, with the aim to enc...
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The registration fees for annual returns (except for late delivery) charged by the Companies Registry will be waived for two years. The waiver of registration fees will apply to annual returns delivered to the Registry on time and within the concession pe...
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Effective from 26 September 2022, if the traveller is from Mainland China or Macau (who have not stayed in overseas places or Taiwan in the 7 days prior to and upon the day of arrival at Hong Kong):* No quota application under Come2hk Scheme will be requi...
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The Hong Kong Monetary Authority (HKMA) announced on 22 September that the Base Rate was adjusted upward to 3.50% with immediate effect according to a pre-set formula.The Base Rate is the interest rate forming the foundation upon which the Discount Rates ...
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Recognising the impact of the recent situation of the COVID-19 pandemic on daily operation of business and practitioners, the Inland Revenue Department decided to grant a final extension time up to 30 September 2022 for filing of 2021/22 Profits Tax retur...
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The Company Registry announced that 50,087 local companies were newly registered during the first half of 2022, bring the total number of registered local companies to 1,386,592. Meanwhile, 415 non-Hong Kong companies have newly established a place of bus...
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Under Phase 2 of the New Inspection Regime of the Companies Register which is effective from 24 October, 2022 (the "Commencement Date"), the usual residential addresses of directors and full identification numbers of directors, company secretaries and som...
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The Inland Revenue (Amendment) (Tax Deductions for Domestic Rents) Bill 2022 is passed by the Legislative Council on June 22. It gives effect to the measure proposed in the 2022-23 Budget for allowing a tax deduction of up to $100,000 for domestic rent.Da...
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IRD has started issuing tax demand notes for the year of assessment 2021/22. Taxpayers who encounter financial difficulties in settling their tax bills on time may apply for payment of tax by instalments before the due dates of the demand notes. For taxpa...
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The Hong Kong Special Administrative Region Government has launched the 2022 Employment Support Scheme under the Anti-epidemic Fund to provide wage subsidies to employees for three months (i.e. May, June and July 2022) to retain their current employees or...
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The Employment (Amendment) Ordinance 2022 comes into operation on 17 June 2022. Major amendment include:A sickness day under the Employment Ordinance (EO) includes a day on which an employee is absent from work by reason of his/her compliance with a speci...
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The Business Registration Ordinance (Amendment of Schedule 2) Order 2022 will come into operation on 17 June 2022. Pursuant to the Order, the rate of the business registration levy is reduced from $250 per annum to $150 per annum. The new levy rate applie...
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The “Pilot Scheme on Immigration Facilitation for Visitors Participating in Short-term Activities in Designated Sectors” (“the Pilot Scheme for STV”) is implemented with effect from 1 June 2022. It aims to provide immigration facilitation to visitors invi...
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The Come2hk Scheme will facilitate non-Hong Kong residents staying in Guangdong and Macao to come to Hong Kong without being subject to compulsory quarantine requirement. The person is required to apply for a quota for entering Hong Kong via the online bo...
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The Financial Secretary proposed a one-off reduction of profits tax, salaries tax and tax under personal assessment for the year of assessment 2021/22 by 100%, subject to a ceiling of $10,000 per case. The relevant legislation for the tax reduction was p...
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The Birthday of the Buddha is newly added statutory holiday from 2022 under the Employment Ordinance, making total 13 days of statutory holidays per year.Starting from 2024, statutory holidays will further be increased progressively to 17 days:Newly added...
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The Exemption from Salaries Tax and Profits Tax (Anti-epidemic Fund) Order comes into operation on 29 May 2020.The Exemption Order exempts, subject to certain conditions, individual and business from payment of salaries tax and profits tax in respect of f...
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With effective from 1 March 2018, a new licensing regime for trust or company service providers has come into operation.Any person who carries on or wishes to carry on a trust or company service business in Hong Kong is required to apply for a licence fro...
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The new Companies Ordinance simplifies the mode of execution of documents by companies. The keeping and use of common seal is now optional.Date: 2014.03.03
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