Hong Kong Budget
Gov’t to increase Community Care Service Vouchers to 11,000
Gov’t to increase Community Care Service Vouchers to 11,000
The increase will involve an annual expenditure of $900m.
Gov’t mulls establishment of one-stop trade services window
Hong Kong wants to attract Mainland manufacturing to set up offices in the city.
Gov't to increase cigarette duty by $0.8 per stick
The proportion of tobacco duty in the retail price of cigarettes will rise to 70%.
Experts call for stronger tax reliefs for individuals, enhanced family office tax breaks
An expanded family office tax concession regime seen propelling the city as global capital hub.
Government extends Green and Sustainable Finance Grant Scheme to 2027
It has so far provided subsidies worth $134m under the scheme.
Cathay eager for end-of-2024 commissioning of HKIA's Three-Runway System
The airline said the system will increase intermodal activity.
Gov’t to set up a 'digital identity of enterprises' platform
The cost for its establishment will be about $300m.
Gov’t injects $100m to boost tourism
The fund will go to the establishment of a Mega Events Coordination Group.
HK’s land supply surplus to reach 14%
The potential land supply for the year is expected to reach a total of 15,000 units.
Gov’t unveils plans to promote I&T and health tech sectors
The gov’t allocated over $25b for projects in these sectors.
Gov’t sets aside $4.3b to support IP trading and creative arts branding
The IP trading and the creative industry received funding of $45m and $4.3b respectively.
Budget 2024-25: Gov’t cuts salaries and profits taxes
The government will reduce salaries tax for the 2023-24 tax year by 100%, subject to a ceiling of $3,000.
Rollback of property cooling measures to spur sales, but no silver bullet to recovery
Analysts estimate up to a 15% sales increase, although prices may still fall in 2024.
2024-2025 budget likely to focus on boosting recovery: expert
UOB experts expect measures on housing, low fertility, and talent.
Hong Kong kicks off public consultation on the 2024-25 budget
The 2024-25 budget will pursue development aimed at promoting stability.
Budget 2023: Gov’t balances fiscal prudence with support amid rising costs
An expert from PwC said the budget was “well-calibrated.”
Business organisations applaud 2023 budget proposals
Under the budget, the government will allocate an additional $550m in funding to HKTDC.
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