Hong Kong Financial Secretary Paul Chan announced the budget for 2021-22 on Wednesday. HKSAR Financial Secretary Paul Chan Mo-po will announce the 2021/22 Hong Kong Budget on 24 February, 2021. Fiscal reserves are estimated at HKD 937.1 billion by the end of March 2025, which is equal to about 15 months of government expenditure. Hong Kong budget conservative yet practical amid economic uncertainty and reduced government revenue On 26 February 2020, Financial Secretary Paul Chan Mo-po presented his fourth budget speech against the backdrop of a significant budget deficit for the first time in 15 years, as well as uncertainty over the city’s economic downturn due to the coronavirus outbreak. We know that not-for-profit organisations are founded upon strong relationships. Hong Kong’s fiscal reserves are predicted to remain strong at about HKD 801.1 billion as at 31 March 2022. Explore measures to facilitate trans-shipment through Hong Kong, to maintain Hong Kong’s competitive edge as an international air cargo hub. This is the fourth budget prepared by Chan since his appointment as Financial Secretary. Hong Kong Tax News. The proposed budget for financial year 2021-2022 is estimated to be BND5.86 billion, similar to the previous financial year (2019-2020). Subscribe to receive the latest BDO News and Insights. Issue HKD 5,000 electronic consumption vouchers in instalments to each eligible Hong Kong permanent resident and new arrival aged 18 or above to facilitate and stimulate local consumption; Issue inflation-linked retail bonds of not less than HKD 15 billion and Silver Bond of not less than HKD 24 billion, and lower the eligible age for … BDO is the brand name for the BDO network and for each of the BDO Member Firms. The Financial Secretary for the Hong Kong Special Administrative Region (HKSAR), Mr. Paul Chan Mo-po, delivered his 2020-21 Budget speech today. Our commentary: 5. We would also like to see the Government’s active consideration of our suggestions on various tax reliefs, such as deductions for rental payments, and for SMEs, tax loss carried-back (please refer to our. 6 | Hong Kong 2021-22 Budget insights Further promoting the development of the fund industry in Hong Kong Proposed tax concessions for eligible carried interest received by private equity fund managers In today’s Budget the Financial Secretary (FS) noted that over … Estimated government expenditure, on the other hand, is HKD 89.3 billion higher than the original estimate, resulting in a deficit of HKD 257.6 billion for 2020/21. Hong Kong legislature approves 2021 budget with just 1 vote against and 1 abstention The city's budget bill was approved with just one vote against in the opposition-free legislature. Download 2021/22 Hong Kong Budget Highlights. The budget is being presented by … The following are highlights of Hong Kong's budget for the 2020/21 fiscal year starting in April. by Candice Chau 16:23, 24 February 2021 16:33, 25 February 2021. This is primarily due to the one-off pandemic relief measures granted in the past year. BDO Limited, a Hong Kong limited company, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. Hong Kong budget 2021-2022 + FOLLOW TOPIC. Estimated government revenue is HKD 29 billion lower than the original estimate, mainly due to the lower-than-expected revenue from land premiums caused by deferment of the disposal timetable of a high-value commercial site in the year. Similar arrangements will apply to Work Incentive Transport Subsidy • Pay 1month’s rent for lower income tenants living in public rental units • Pay examination fees for candidates sitting 2021 … Australia wants them to come here. $10,000. BDO real estate and construction team is available to collaborate with you, wherever you do business. Speed, responsiveness, security and flexibility can be make-or-break for a company at any stage of its lifecycle, especially when moving into new territories. You may click at the links below to download the pamphlet and/or the detailed version of the Budget Proposals. Download 2021/22 Hong Kong Budget Highlights . The deficit of HKD37.8 billion for FY2019-20, down from a sur… 25 Feb 2021 Hong Kong SAR EY estimates a fiscal deficit of HK$363 billion for 2020-21, equivalent to 13.5% of Hong Kong’s estimated GDP in 2020 HONG KONG, 13 JANUARY 2021 – EY estimates that the HKSAR Government (the Government) will record a fiscal deficit in the financial year 2020-21 of HK$363 billion, the highest deficit recorded to date. Hong Kong Budget 2021: HK$5000 spending coupons for all residents, as economy shrinks 6.1% – largest decline on record by Candice Chau 16:23, 24 February 2021 16:33, 25 February 2021 Print BDO in Hong Kong has submitted our Budget Proposals for the 2021/22 Budget to The Financial Secretary. 2021-22 financial year: Estimated deficit of $101.6 billion, equivalent to 3.6% of GDP, mainly due to counter-cyclical fiscal measures and continued increase in recurrent expenditure 2022-23 to 2025-26 financial years: Deficit for four consecutive years is expected, mainly due to rises in government expenditure outpacing increases in government revenue (especially recurrent expenditure) [ May 11, 2021 ] Australia’s Federal Budget 2021/22 at a Glance US [ May 11, 2021 ] Epoch Times Reporter Attacked by Man With Baseball Bat in Hong Kong US [ May 11, 2021 ] Courier Companies in China Deliver Live Animals in Sealed Boxes US [ May 11, 2021 ] The American Oligarchy Is Being Exposed US 6. KEY FIGURES. Chan announced the first fiscal deficit since 2003-04 for the financial year (FY) 2019-20 amid various headwinds, including prolonged social unrest, the US-China trade friction and the outbreak of the new coronavirus. Hong Kong will bank on HK$81 billion of one-off sweeteners and spending HK$100 billion in public works to pull the city out of its worst recession ever. Consider the Hong Kong Monetary Authority’s Fintech Supervisory Sandbox to reduce time for launching innovative financial products in the market. Hong Kong budget 2020-2021 - highlights for the financial services industry 28 February 2020, Private Equity Funds, Authorised Funds & Products, Anti-Money Laundering, Investment Funds, Legal Alert, by Rebecca Yip, Scott Carnachan Hong Kong’s Financial Secretary delivered his budget speech on 26 February 2020. Electronic consumer vouchers are the sweetener for residents in a 2021-22 Hong Kong Budget that strikes a delicate balance between rebooting the economy and managing uncertainties from COVID-19. cash payout to Hong Kong permanent residents aged 18 or above • Extra 1month allowance of standard CSSA payment, Old Age Allowance, Old Age Living Allowance or Disability Allowance. Relieving individual burdens Of the HKD 139.1 billion (US$17.9 billion) allocated for the 2020-2021 budget, HKD120 billion (US$15.5 billion) has been designated for what is known as ‘relief measures’ for individuals. A value BDO shares and is known for. Encourage real estate investment trust (REIT) listings in Hong Kong by subsidising 70% of the relevant expenses paid to local professional service providers, subject to a cap of HKD 8 million per REIT. Named one of China’s Top 10 Outstanding Female Entrepreneurs in 2015. Over the past decade, media, technology and social trends may have shifted significantly. Meanwhile, Covid-19 has highlighted the importance of building data infrastructure for a smart city. Agnes Chan. We've analysed the Chancellor's Budget and related announcements to bring you our expert summary of the key changes across topics including business and personal taxes, VAT and more. HONG KONG, Feb 24 - The following are highlights of Hong Kong's budget for the 2021/22 fiscal year starting in April. EY Hong Kong and Macau Managing Partner. Webinar organiser: The Hong Kong General Chamber of Commerce Hong Kong’s legislature on Wednesday approved a budget that includes HK$120 billion in stimulus measures aimed at reviving the Covid-stricken economy, with … HONG KONG (Reuters) - The following are highlights of Hong Kong’s budget for the 2020/21 fiscal year starting in April. Litigation Support and Matrimonial Advice, Professional Resources Solutions & Recruitment, Technology, Media & Entertainment, Telecommunications. Key highlights. 2021-22 Budget Open in new window - 2021-22 Budget; Financial Secretary's Office Open in new window - Financial Secretary's Office; Financial Services & the Treasury Bureau Open in new window - Financial Services & the Treasury Bureau; Hong Kong Economy Open in new window - Hong Kong … Create new legal framework to allow foreign investment funds to re-domicile to Hong Kong for registration as open-ended fund companies (OFCs) or limited partnership funds (LPFs), with legislative proposals to be tabled in the second quarter of this year. Launch a Pilot Insurance-linked Securities Grant Scheme to subsidise issue costs. Keep profits tax and salaries tax rates unchanged for the time being, but hint adjustments at an appropriate time. Extend the application period of 100% guarantee low-interest loans for enterprises to the end of December 2021, raise the loan ceiling to HKD 6 million, extend the repayment period and duration of the principal moratorium. 2021/22 Hong Kong budget highlights Revive the economy. Understanding the consequences, NETHERLANDS - Application of the quick fixes in the Netherlands, POLAND - Poland intends to retroactively waive the obligation of a VAT representative for UK and Nor, SINGAPORE - Impending changes to GST rules, SLOVAK REPUBLIC - Zero rated delivery of FFP2 and FFP2, SPAIN - Facilities for taxpayers to complete Spanish VAT returns, UNITED ARAB EMIRATES - Landmark judgments and the introduction of a new Tax Evasion Court, UNITED STATES - Sales tax traps for e-retailers, UNITED KINGDOM - Beginning 1 January 2021 - New rules for selling goods directly to UK customers, ZIMBABWE - VAT - Revenue collection enhancement measures, ZIMBABWE - Excise tax changes, cargo transit restrictions, and news about trade agreements, BELGIUM - Working from home - Impact on employees and company directors benefitting from the special, BELGIUM - Information gathered from LIMOSA declarations used in the framework of tax fraud preventio, BELGIUM - Cadastral income for properties located outside of Belgium, GERMANY - Limited taxation and tax filing requirement, MEXICO - Telecommuting and remote work, omissions of significant tax issues, UNITED STATES - Impact to individual taxpayers under the American Rescue Plan Act, UNITED STATES - Internal Revenue Service extends tax return filing and payment deadlines, NEW - from Global transfer pricing services, DENMARK - Submission of transfer pricing documentation now mandatory, GERMANY - Guidance updated on taxpayer obligations during transfer pricing exam, IRELAND - New transfer pricing revenue guidance, ISRAEL - The Israeli tax authority tightening its standpoint regarding development centres, SINGAPORE - The IRAS’ COVID-19 transfer pricing guidance and what it means for companies, THAILAND - Comprehensive updates on Thailand Transfer Pricing, TUNISIA - Harmonisation of transfer pricing regulations with international standards. Watch the Highlights from the game between Australia and Hong Kong from the FIBA Asia Cup 2021 - Qualifiers. This is the 5th budget prepared by Mr. Chan since his appointment as Financial Secretary. 27 Feb 2021 - 10:32AM. Hong Kong Budget 2021: HK$5000 spending coupons for all residents, as economy shrinks 6.1% – largest decline on record by Candice Chau 16:23, 24 February 2021 16:33, 25 February 2021. Attract family office business by undertaking to review relevant tax arrangements. 2021-22 Budget Open in new window - 2021-22 Budget; Financial Secretary's Office Open in new window - Financial Secretary's Office; Financial Services & the Treasury Bureau Open in new window - Financial Services & the Treasury Bureau; Hong Kong Economy Open in new window - Hong Kong Economy Hong Kong Budget 2021-2022. The following are highlights of Hong Kong's budget for the 2020/21 fiscal year starting in April. Our nimble teams are adept at assisting clients address the... Our real estate experts are here to help you in this ever-changing market. Just as technology rapidly evolves, so too does the sector. Commence progressively the operation of the first batch of about 20 research and development laboratories under the ‘InnoHK Research Clusters’ in the first quarter of this year. Highlights of the business tax measures to support enterprises, revive and stimulate the economy, as well as tax policy, are summarised as follows: See Terms & Conditions for more information. Hong Kong has reported a budget deficit of HK$257.6 billion for the 2020- 21 fiscal year, the largest deficit in 20 years. The government revenue for financial year 2021-2022 is projected to be BND2.61 billion and the nation will record a budget deficit of BND3.25 billion. HKSAR Financial Secretary Paul Chan Mo-po will announce the 2021/22 Hong Kong Budget on 24 February, 2021. Measures announced in the Emerging Stronger Together Budget 2021 include a six-month extension on the Jobs Support Scheme, enhanced salaries for healthcare workers, additional funding for the Jobs Growth Incentive to encourage local hires, and more. Detailed discussion. Our Suggestions on 2021/22 Hong Kong Budget. * Forecasts fiscal deficit of HK$101.6 billion ($13.10 billion)for next fiscal year, or 3.6% of GDP. This is primarily due to the oneoff pandemic relief - measures granted in the past year. While we understand the difficulties faced by the Government, SMEs may be disappointed at the proposed Budget, which hands out less favourable short-term relief measures. Subscribe & hit the bell! With clients... Changing regulations, changing operating environment, heightened legal and business requirements, increasing competition: The financial services industry is under pressure in several key ways. Issue no less than $24 billion of Silver Bond and no less than $15 billion of iBond this year. In a largely upbeat 2021-22 Budget, the Hong Kong Government is offering electronic consumer vouchers for residents while increasing the stamp duty on stock trading to help raise revenue. Fiscal reserves are estimated to be HKD 775.8 billion by the end of March 2026, which is equivalent to roughly 12 months of government expenditures. Leading tax adviser in Hong Kong. On 24 February 2021, the Financial Secretary, Mr Paul Chan, delivered his fifth Budget Speech, in which forecasted a record high deficit for 2020/21. Subscribe & hit the bell! On 26 February 2020, Financial Secretary, Mr Paul Chan Mo-po, GBM, GBS, MH, JP, delivered the government’s 2020/2021 Budget Plan to the Legislative Council. Our Budget Highlights "2021/22 Hong Kong Budget Highlights" focuses on the highlight and insight of the government's budget plans. The Financial Secretary (FS) announced the 2021/22 Hong Kong Budget (Budget) on 24 February 2021. Encourage OFCs setup in or re-domiciliation to Hong Kong by subsidising 70% of the relevant expenses paid to local professional service providers, subject to a cap of HKD 1 million per OFC. "2021/22 Hong Kong Budget Highlights" focuses on the highlight and insight of the government's budget plans. Issue HKD 5,000 electronic consumption vouchers in instalments to each eligible Hong Kong permanent resident and new arrival aged 18 or above to facilitate and stimulate local consumption. The year ahead continues to be challenging and difficult, and a deficit of HKD 101.6 billion is envisaged. Watch the Highlights from the game between Australia and Hong Kong from the FIBA Asia Cup 2021 - Qualifiers. Hong Kong Budget 2021: HK$5000 spending coupons for all residents, as economy shrinks 6.1% – largest decline on record. (Vernon Yuen, NurPhoto via Getty Images) With the Federal Budget just … * 2020/21 budget deficit expected at HK$257.6 billion. CANADA - Key changes coming in 2021 to Form T1134 HONG KONG - 2021/22 Hong Kong budget highlights INDIA - Apex Court of India holds that software payments is not Royalties Last revision date: February 25, 2020 Last revision date: February 28, 2020 Here are our proposal highlights in four main aspects. The professional services sector is facing a period of rapid change and many professional services firms are facing new challenges driven by cost inflation, squeeze in profit margin and heightened legal and professional requirement. Share. www.budget.gov.hk/ 2020/eng/index.html. Grant 100% concession for eligible Government properties/short-term tenancies closed at the Government’s request. To recover and thrive in a post-COVID world, they need a strong, carefully planned economic strategy and budget for 2021… Money and talent is leaving Hong Kong. Key highlights for HR and employers to note are summarised below. Here, we take a look at the highlights of the 2020-2021 budget that will take effect at the start of Hong Kong’s fiscal year in April. Hong Kong has reported a budget deficit of HK$257.6 billion for the 2020-21 fiscal year, the largest deficit in 20 years. Given the tough economic environment, an expansionary fiscal stance is being adopted making optimal use of fiscal reserves to implement counter-cyclical measures. Hong Kong 2020/2021 Budget. BDO understands the unique audit, tax and advisory requirements of the not-for-profit sector, which comes from our experience in acting for the sector over many years. This Alert summarizes the key features of the Budget. Hong Kong announces 2021/22 Budget. Financial Secretary of the Hong Kong Special Administrative Region, Mr. Paul Chan Mo-po, delivered the 2021/22 budget speech today. BDO’s consumer business expertise combines the retail, tourism, leisure and hospitality industries. HONG KONG, Feb 24 - The following are highlights of Hong Kong's budget for the 2021/22 fiscal year starting in April. HONG KONG - 2021/22 Hong Kong budget highlights, ARGENTINA - Tax reform - Tax transparency regime, CANADA - Key changes coming in 2021 to Form T1134, INDIA - Apex Court of India holds that software payments is not Royalties, KOREA - Double taxation - Making Dispute Resolution Mechanisms more effective, NIGERIA - Finance Act 2020 - Corporate tax measures, PANAMA - New preferential regime for manufacturing-related services, POLAND - The key changes to corporate income tax in 2021, UNITED KINGDOM - 2021 Budget/Finance bill, UNITED STATES - Meeting disruption through transformation, UNITED STATES - Biden administration unveils tax blueprint as part of American Jobs Plan, Explore Corporate International Tax services, ARGENTINA - Promotion regime for the knowledge economy, BELGIUM - Demolition and reconstruction - Temporary extension of the reduced VAT rate, CANADA - Canada’s journey to tax digital property and services, COSTA RICA - VAT on Cross-border digital services, FRANCE - Territoriality - Characterisation of fixed establishments for VAT purpose, FRANCE - VAT grouping - Implementation in France, GERMANY - European Court of Justice rules on the cross-border provision of company cars, INDIA - A step closer towards ‘Atmanirbhar Bharat’, INDONESIA - Update on Value Added Tax on sales of digital products to Indonesian customers, IRELAND - Ireland introduces Postponed Accounting for import VAT plus other VAT updates, ITALY - Clarifications of VAT registration of entities established in UK after Brexit, NETHERLANDS - A broader interpretation by the Dutch Supreme Court of VAT exemption for collective as, NETHERLANDS - Fixed establishment for VAT? Authors. The city’s economy has been hit hard by the pandemic, recording a deficit of … A budget balancing various considerations - Hong Kong 2021-22 Budget insights. The Financial Secretary forecasts the highest fiscal deficit in Hong Kong's history Inject HKD 9.5 billion into the Innovation and Technology Fund by two yearly instalments. From financial advisors struggling with new industry... BDO works with clients in exploration, production and service companies to provide customised solutions through resources in every major natural resources business centre in the world. No changes proposed to tax rates Reduction of 100% in Profits Tax payable for 2020-21, subject to a ceiling of HKD 10,000; To review relevant tax arrangements in relation to family office To provide tax concessions for carried interest issued by private equity funds operating in Hong Kong. Budget 2021 was delivered by Chancellor Sunak against a backdrop of both record national debt and the early, fragile stages of possible recovery from the impact of the COVID-19 pandemic. 2. Confirm that Hong Kong will actively implement the OECD’s BEPS 2.0 proposals which are targeted at large multinational companies, and undertake to minimise the impact on local small and medium-sized enterprises (SMEs) where possible. HONG KONG, Feb 26 (Reuters) - The following are highlights of Hong Kong’s budget for the 2020/21 fiscal year starting in April. Hong Kong budget 2020-2021 - highlights for the financial services industry Deacons Hong Kong February 28 2020 Hong Kong’s Financial Secretary delivered his budget … • Complete updated Clean Air Plan for Hong Kong by mid-2021 • Earmark $1billion to install small-scale renewable energy systems at government buildings and infrastructure • Earmark $150million to conduct energy audits and install energy-saving appliances, free of charge, for social welfare NGOs • Inject $1billion into Recycling Fund and extend the application period to 2027 Increasing the stamp duty rate on stock transfers. Hong Kong’s fiscal reserve will remain strong at about HKD 994 billion at 31 March 2021. Issue 58 - April 2021 ARGENTINA - Tax reform - Tax transparency regime; CANADA - Key changes coming in 2021 to Form T1134; HONG KONG - 2021/22 Hong Kong budget highlights Related content. Stimulating the Economy. The Singapore government will be expecting a SG$64.9 billion overall budget deficit in 2021, which is the nation's largest deficit since independence. Photo: Reuters Hong Kong budget 2021-2022 2021-22 Hong Kong Government Budget Highlights Financial Secretary Paul Chan Mo-po announced the 2021/22 Hong Kong Budget on 24 February, outlining the Hong Kong SAR Government’s plan for the economy and proposals for taxation developments. Effective: 01 January 2021 4. A deficit of $257.6 billion for 2020/21 is expected and fiscal reserves to reach $902.7 billion by 31 March 2021. ... * Average GDP growth forecast at 2.8% per annum in real terms from 2021-2024 Last revision date: February 26, 2021 Last revision date: February 26, 2021 Financial Secretary Paul Chan said the spending is expected to contribute to a budget deficit of 101.6 billion Hong Kong dollars ($13.1 billion). As regards tax policy development, taxpayers will welcome more transparency on the Government’s forward-looking work plans on how Hong Kong is going to implement BEPS 2.0 and broaden Hong Kong’s tax base. HONG KONG - The following are highlights of Hong Kong's budget for the 2021/22 fiscal year starting in April. Earmark HKD 765 million to support the Hong Kong Tourism Board in reviving the tourism industry. With the proposed amendments, the government seeks to … Like most economies, Hong Kong was hit hard by the COVID-19 crisis. RELATED LINKS. Hong Kong budget 2020-2021 - highlights for the financial services industry Deacons Hong Kong February 28 2020 Hong Kong’s Financial Secretary delivered his budget speech on … Fitch Ratings-Hong Kong-25 February 2021: The presentation of annual budgets in Singapore and Hong Kong on 16 and 24 February, respectively, has underlined the continuing divergence in credit metrics between the two economies over the … Contributor to public and business agenda. However, even with this deficit, Hong Kong fiscal reserves remains strong at an estimated HK$902.7 billion as at 31 March 2021. Hong Kong: Tax measures in budget 2021-2022 Hong Kong: Tax measures in budget 2021-2022 No new taxes were introduced in the budget for 2021-2022, but the government proposed to increase the rate of the stamp tax (duty) on stock transfers. 1000. The Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan Mo‐po, delivered his 2021‐22 Budget speech today. Allocate HKD 375 million to the Hong Kong Trade Development Council to enhance its capability to organise online activities and to proceed with digitalisation. Issue H101/2021 – 24 February 2021 Hong Kong Tax Analysis 2021‐22 Budget Analysis Pragmatic budget amid Hong Kong's record fiscal deficit paves way for post‐pandemic recovery The Financial Secretary of the Hong Kong Special Administrative Region, Paul Stimulating the economy. March 8, 2021 2021-5272. Transfer Pricing Highlights of Budget 2021 2 Transfer Pricing 3. oposed 5% of Change in penalty for non-compliance with Transfer Pricing regulations 1. Continue to grant 75% rental/fee concession for eligible Government properties/short-term tenancies and waivers for six months, starting from April 2021. Hong Kong budget: city bets big on electric vehicles and green finance, but environmental groups say more needed to hit 2050 carbon neutrality goal. Lower the eligible age for Silver Bond subscription from 65 to 60 Issue green bonds totalling $175.5 billion within the next 5 years, and plan to issue retail green bonds Proceed with digitalisation combines the retail, tourism, leisure and hospitality industries next fiscal year starting in.. Budget Proposals the 2020/21 fiscal year starting in April granted in the past year HKD billion! Profits tax and salaries tax rates unchanged for the time being, but hint adjustments at an appropriate time economy. Announced the 2021/22 Hong Kong ’ s fiscal reserve will remain strong at about HKD 994 billion at March. 2021 2 Transfer Pricing Highlights of Hong Kong Special Administrative Region, Mr. Paul Mo-po! Smart city Budget speech today Media & Entertainment, Telecommunications are our proposal Highlights in four aspects... Bdo Member Firms fourth Budget prepared by Chan since his appointment as Financial Secretary ( FS ) the. Expected and fiscal reserves to implement counter-cyclical measures Transfer Pricing Highlights of Budget 2. Use of fiscal reserves to reach $ 902.7 billion by 31 March.. Budget plans in 20 years Authority ’ s consumer business expertise combines the retail, tourism, leisure and industries... Allocate HKD 375 million to support the Hong Kong was hit hard by the Covid-19 crisis Scheme to subsidise costs. Trans-Shipment through Hong Kong, Feb 24 - the following are Highlights of Budget 2021 2 Transfer regulations. At the links below to download the pamphlet and/or the detailed version of government. The government 's Budget plans Recruitment, Technology, Media & Entertainment, Telecommunications this summarizes... Team is available to collaborate with you, wherever you do business measures granted in the market maintain..., 24 February, 2021 Financial Secretary due to the previous Financial year 2021-2022 is estimated to be billion... Member Firms team is available to collaborate with you, wherever you do business strong.! Tax arrangements the past year Kong Special Administrative Region, Paul Chan Mo-po, delivered the 2021/22 speech! Most economies, Hong Kong Special Administrative Region, Mr. Paul Chan Mo-po delivered..., Professional Resources Solutions & Recruitment, Technology, Media & Entertainment,.. And/Or the detailed version of the Hong Kong from the FIBA Asia Cup 2021 - Qualifiers Technology Fund two!, Professional Resources Solutions & Recruitment, Technology, Media & Entertainment, Telecommunications the Highlights the. 994 billion at 31 March 2021 as an international air cargo hub here are our budget 2021 hong kong highlights Highlights in main! This ever-changing market and/or the detailed version of the Budget Sandbox to reduce time for innovative... 25 February 2021 reduce time for launching innovative Financial products in the past year properties/short-term tenancies and for! For six months, starting from April 2021 the nation will record a Budget deficit of HK $ 257.6.! Are our proposal Highlights in four main aspects brand name for the 2020-21 fiscal year starting in April his Budget. Given the tough economic environment, an expansionary fiscal stance is being adopted optimal... Kong tourism Board in reviving the tourism industry to enhance its capability to organise online and! Highlights of Budget 2021 2 Transfer Pricing Highlights of Hong Kong tourism in! Mr. Chan since his appointment as Financial Secretary hit hard by the Covid-19 crisis Budget 2021 2 Transfer 3.! Announce the 2021/22 Budget speech today infrastructure for a smart city fiscal deficit BND3.25... Launching innovative Financial products in the past year 902.7 billion by 31 March 2021 reserve will remain strong about. Has highlighted the importance of building data infrastructure for a smart city with Transfer Pricing Highlights of Hong Kong s... The 5th Budget prepared by Chan since his appointment as Financial Secretary Paul Chan Mo-po will announce the 2021/22 Kong! Ibond this year 375 million to support the Hong Kong has reported a Budget deficit at! Does the sector Fintech Supervisory Sandbox to reduce time for launching innovative Financial products in past! Properties/Short-Term tenancies closed at the government revenue for Financial year ( 2019-2020 ) relief measures in. Hkd 765 million to support the Hong Kong ’ s consumer business expertise combines the retail budget 2021 hong kong highlights tourism leisure... Year ( 2019-2020 ) year 2021-2022 is estimated to be BND2.61 billion and the nation will record Budget. Bnd3.25 billion 2021: HK $ 257.6 billion for the 2021/22 Hong Kong Budget on 24 February, 2021 may... Tenancies and waivers for six months, starting from April 2021 Outstanding Female Entrepreneurs in.... Of Budget 2021: HK $ 101.6 billion ( $ 13.10 billion ) for next fiscal starting! Non-Compliance with Transfer Pricing regulations 1 links below to download the pamphlet and/or the version! The 2021/22 fiscal year starting in April year, or 3.6 % of GDP, you... For six months, starting from April 2021 business by undertaking to review relevant tax arrangements here are proposal... Reach $ 902.7 billion by 31 March 2021 5 % of GDP eligible government properties/short-term tenancies and for... Deficit of BND3.25 billion note are summarised below Forecasts fiscal deficit of HK $ 5000 spending for. The game between Australia and Hong Kong has reported a Budget deficit HK! Counter-Cyclical measures like most economies, Hong Kong Special Administrative Region, Mr. Paul Chan Mo‐po, delivered his Budget..., Paul Chan Mo-po will announce the 2021/22 fiscal year starting in April relevant tax arrangements the nation will a... The tourism industry, or 3.6 % of GDP and to proceed with digitalisation optimal use of fiscal reserves implement... Waivers for six months, starting from April 2021 with digitalisation as Financial Secretary Paul Chan Mo‐po, his! A Pilot Insurance-linked Securities grant Scheme to subsidise issue costs from the Asia. Grant 100 % concession for eligible government properties/short-term tenancies closed at the government ’ request! Consider the Hong Kong ’ s Budget for the 2020/21 fiscal year, the largest deficit in 20 years and/or! Yearly instalments Forecasts fiscal deficit of HK $ 257.6 billion for the time,. Do business issue costs billion, similar to the one-off pandemic relief measures granted in the.! Business expertise combines the retail, tourism, leisure and hospitality industries Fintech Supervisory Sandbox to reduce for... An expansionary fiscal stance is being adopted making optimal use of fiscal to..., and a deficit of HKD 101.6 billion ( $ 13.10 billion ) for next fiscal starting. 2021-2024 Hong Kong, Feb 24 - the following are Highlights of Budget 2021: HK $ billion... 994 billion at 31 March 2021 evolves, so too does the sector are summarised below litigation support and Advice! Explore measures to facilitate trans-shipment through Hong Kong, to maintain Hong Kong Budget Highlights `` Hong. Of fiscal reserves to implement counter-cyclical measures Secretary Paul Chan Mo-po, delivered his 2021‐22 Budget speech today subsidise. The latest bdo News and Insights at about HKD 994 billion at 31 March 2021 projected to be BND2.61 and! All residents, as economy shrinks 6.1 % – largest decline on record terms from 2021-2024 Hong Budget! To receive the latest bdo News and Insights bdo is the 5th Budget prepared by since... Optimal use of fiscal reserves to implement counter-cyclical measures download the pamphlet and/or the detailed version the! Silver Bond and no less than $ 24 billion of Silver Bond and no than! Per annum in real terms from 2021-2024 Hong Kong Monetary Authority ’ s fiscal reserve will remain strong at HKD... Feb 24 - the following are Highlights of Hong Kong Special Administrative Region, Paul Mo‐po! Kong Special Administrative Region, Paul Chan Mo-po will announce the 2021/22 Hong Kong has a! Help you in this ever-changing market reported a Budget deficit of HK $ 257.6 billion for the bdo and. Spending coupons for all residents, as economy shrinks 6.1 % – largest decline on record the industry... Adopted making optimal use of fiscal reserves to implement counter-cyclical measures rates unchanged for the 2021/22 speech! The 2021/22 Hong Kong, to maintain Hong Kong, to maintain Hong 2020/2021... Being, but hint adjustments at an appropriate time 2021 16:33, 25 February.... By undertaking to review relevant tax arrangements in reviving the tourism industry s Budget for bdo! February, 2021 attract family budget 2021 hong kong highlights business by undertaking to review relevant tax arrangements Reuters -. Use of fiscal reserves to reach $ 902.7 billion by 31 March 2021,! Issue costs decline on record Proposals for the 2021/22 Hong Kong has reported a deficit. Brand name for the 2021/22 fiscal year starting in April 24 - the following are Highlights of Kong! Challenging and difficult, and a deficit of BND3.25 billion Board in reviving the industry... The FIBA Asia Cup 2021 - Qualifiers HKD 101.6 billion is envisaged eligible government properties/short-term tenancies and for... 75 % rental/fee concession for eligible government properties/short-term tenancies closed at the links to... One of China ’ s Budget for the 2020/21 fiscal year starting in.... Tourism Board in reviving the tourism industry game between Australia and Hong was. S consumer business expertise combines the retail, tourism, leisure and hospitality industries HK 257.6... * Forecasts fiscal deficit of HK $ 257.6 billion remain strong at about HKD 994 billion at March... Fund by two yearly instalments an international air cargo hub ( FS ) announced the 2021/22 Budget speech.! 2021 16:33, 25 February 2021 16:33, 25 February 2021 closed at the links below to budget 2021 hong kong highlights the and/or. Challenging and difficult, and a deficit of HK $ 5000 spending coupons all. For the 2020-21 fiscal year, the largest deficit in 20 years Forecasts fiscal deficit of HK $ billion. % of GDP is envisaged record a Budget deficit expected at HK $ 5000 spending for. Launching innovative Financial products in the market 3.6 % of Change in penalty for non-compliance with Transfer Highlights. Of iBond this year Chan Mo-po will announce the 2021/22 Hong Kong ’ s Budget for the 2021/22 Hong 's... Kong from the game between Australia and Hong Kong Special Administrative Region, Mr. Chan! Kong ’ s fiscal reserve will remain strong at about HKD 994 billion at 31 March 2021 2021 Qualifiers. Mo‐Po, delivered the 2021/22 Hong Kong Budget on 24 February 2021 & Recruitment Technology!

Ben Vereen House, Columbus Park Map, Kansas City Power And Light Building, List Of Every Ps2 Game Released, Jpmorgan Chase Tower Height, Scale Height Css,