HONG KONG: BUDGET HIGHLIGHTS 2023-24

Overview The Financial Secretary, Mr. Paul Chan, delivered the 2023/24 Budget Speech on 22nd February 2023. The forecasted deficit of about $139.8 billion for 2022/23 is higher than the original estimate of about $56 billion. Then, the fiscal reserves estimation decreases to $762.9 billion, equivalent to 12 months of government expenditure. Where are we NOW? …

HONG KONG ROLLS OUT CONSUMPTION VOUCHER 2023

Consumption Voucher Hong Kong will roll out another round of electronic consumption voucher 2023 that worth HK$5,000 again to permanent adult. The payment will separate in two instalments.  What about Hong Kong Resident? If you are coming to Hong Kong on different admission schemes, or overseas students studying in Hong Kong. You still can receive …

HONG KONG: LODGEMENT OF 2022/23 PROFIT TAX RETURNS

The profits tax filing season sent with the bulk issuance of the 2023/23 profit tax returns on 3rd April 2023. Dates for filing the 2022/23 Profit Tax Returns If you would like for extension for tax filing, you have to send your application within 1 month from the date of issue. The extended due dates …

HONG KONG: THE BUD FUND – EASY BUD

What is BUD FUND? Hong Kong Government set up a “Dedicated Fund on Branding, Upgrading and Domestic Sales” (“the BUD Fund”) in June 2012. The purposes are assisting enterprises in exploring and developing the market via: The Government extended the geographical coverage of the BUD Fund in August 2018 to also include the Association of Southeast …

HONG KONG: FULLY VIRTUAL GENERAL MEETINGS FOR HONG KONG LIMITED COMPANIES

What’s New? Starting from 28th April 2023, the Companies (Amendment) Ordinance 2023 (the “Amendment Ordinance”) came into operation in Hong Kong. The Companies Registry (CR)accepts holding an annual general meeting (AGM) or general meeting (GM) in virtual methods. members of Hong Kong Companies will no longer need to show up in person to attend the …