HK $4 billion of sugar distribution by the Hong Kong Government: subsidizing water and electricity expenses of enterprises to ensure employment

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 HK $4 billion of sugar distribution by the Hong Kong Government: subsidizing water and electricity expenses of enterprises to ensure employment


Financial Secretary Chen maobo announced the fourth round of Hong Kong dollar 4 billion rescue plan from the Hong Kong Government

These nine measures include:

First, 75% of the water and sewage charges for non residential users will be reduced, with a ceiling of HK $20000 and HK $12500, respectively. For four months, the government will charge HK $340 million less, benefiting about 250000 users;

Second, provide 75% of the electricity subsidy for each qualified non residential power user, with a ceiling of HK $5000 for four months, which is expected to involve HK $2.3 billion and benefit 430000 users;

Third, the government reduced its income by another 600 million, benefiting about 260000 users, by increasing the rate (land tax) exemption for non residential properties from HK $1500 to HK $5000;

Fourth, in the 2018 / 19 tax year, the profits tax, salaries tax and individual income tax payers can apply to pay the tax in installments. If approved by the tax bureau, the additional tax of unpaid tax will be exempted for a period of no more than one year;

Fifthly, the fees and rents of cruise companies and terminal merchants at Kai Tak cruise terminal will be reduced for 6 months, and it is estimated that 105 ships and 6 merchants will benefit;

Sixth, a one-time rental allowance for recycling enterprises, involving about HK $100 million, benefiting about 500 corner recycling shops and 400 open-air recycling sites;

Seventh, the SFC will exempt all licensees and intermediaries from annual license fees for 2020 / 21, benefiting more than 47000 licensees or institutions;

Eighth, the Employees Retraining Board will optimize and extend the special value-added scheme, including consideration of increasing the student allowance to HK $5800;

Ninth, we will optimize the Youth Programme to reach 600 young people.

The Hong Kong government has launched three rounds of bail-out measures, including the one-off bail-out measures of HK $42.9 billion proposed in the budget this year, the bail-out measures of HK $19.1 billion announced in mid August, and the bail-out measures of HK $2 billion announced in mid October, totaling more than 64 billion yuan, to provide support to enterprises and citizens in different industries and reduce the pressure of economic downturn.

(function() {(window. Slotbydup = window. Slotbydup| []). Push ({ID: 6374560, container: ssp_, size: 300250, display: inlay fix, async: true});))); (source of this paper: responsibility editor of observer network: Li Chao