The 2022-2023 HKSAR Budget - Supporting Enterprises
2022-02-23
1. Rental Enforcement Moratorium
-Prohibit landlords from terminating the tenancy of not providing services to tenants of specified sectors for failing to settle rents on schedule , or taking relevant legal actions against them.,
-Valid for three months, and be extended for another three months if necessary, with the legislation automatically lapsing after six months ,
-Banks will exercise flexibility if the repayment ability of any landlord is affected owing to reduction in rental income
2. Special 100% Loan Guarantee for Enterprises
-Extend the application period to end June 2023,
-Increase the maximum loan amount to 27 months of employee wages and rents, with the loan ceiling raised to $9 million
-Extend the maximum repayment period of 10 years
-Offer the option of making partial repayment of principal over a longer period of time
-Extend the Pre-approved Payment Holiday Scheme to end October, offering enterprises the option of making partial repayment of principal over a longer period of time
3. Reduce Profit Tax $10,000
-Reduce profits tax for the year of assessment 2021/22 by 100%, subject to a ceiling of $10,000.
4. Rate Concession for non-domestic properties $5,000
-Provide rates concession for non-domestic properties for 2022/23, subject to a ceiling of $5,000 per quarter in the first two quarters and a ceiling of $2,000 per quarter in the remaining two quarters
5. Waive Business Registration Fees 22/23
6. Waive Water & Sewage charges $20,000/$12,500
-Continue to wiave 75% of water and sewage charges payable by non-domestic households for eight months , subject to a monthly ceiling of $20,000 and $12,500 respectively
7.Extend waivers/ concessions of 34 groups of Government fees for 12months
-Extend the waivers/concessions of the existing 34 groups of government fees and charges (including aviation, maritime, logistics, retail, catering, fisheries, tourism and entertainment) for 12 months starting from October this year.
8.Grant rental /fee concessions of government premises for 6 months
-Continue to grant the 75% rental/ fee concession to eligible tenants of government premises/ short-term tenancies and waivers for six months, (100% concession for those closed at the Government's request)
9.Strengthen support for Export
-To strengthen support for export financing and export credit insurance.