Hong Kong: 48,000 Local Companies Newly Registered in the Mid-2020 By the end of June 2020, Hong Kong’s total number of local companies registered was 1.38 million. Additionally, 48,760 local companies were newly registered in the first half of 2020 according to a new report by the Companies Registry. 876 foreign entities established a place…
Tax Concessions Bill Passed for Insurance-related Businesses in Hong Kong The passage of the Inland Revenue (Amendment) (Profits Tax Concessions for Insurance-related Businesses) Bill 2019 by the Legislative Council on July 2020 was welcomed by the Secretary for Financial Services & the Treasury. Details of the New Bill The ordinance will serve as an…
COVID-19 Report Card to Assess Pandemic Readiness Experts have created a report card to measure the readiness of a country in handling outbreaks. The COVID-19 Report Card will have several indicators to evaluate the countries’ preparedness in combating a pandemic. Inaccuracy of GHSI Pandemic preparedness has not equated to effective pandemic management. Assessments such…
Understanding the Latest Buzzword: Travel Bubble Travel bubble, travel corridor, corona corridor are the latest positive buzzwords during this troubling time of the pandemic. But what are they, and why should we be excited about it? What is a Travel Bubble? More and more countries are adopting the travel bubble. Although we’re in the…
New Support Measures Launched Due to COVID-19 The Hong Kong Export Credit Insurance Corporation (HKECIC) is launching new support measures regarding the liquidity of SMEs in Hong Kong. The new support measures are for the exporters in Hong Kong. This is in light of the COVID-19 pandemic. The support measures will be effective until 1…
Hong Kong Remains Globally Favoured Despite Setbacks Affecting the Jurisdiction Year in year out, Hong Kong had always been the top destination in terms of business affairs. Its pro-business environment and government efficiency make it a favoured place by all sizes of business organisations. The year 2019 saw Hong Kong plagued with social unrest for…
Taxpayers Must File Hong Kong 2019/20 Taxes on Time Complete Your Hong Kong Tax Returns Before the 2 July Deadline All individuals were issued with their Hong Kong 2019/20 on 1 June 2020. Taxpayers must file and complete their returns by the 2 July 2020 deadline. All income tax returns should be completed and…
430,000 Applications for the Hong Kong Employment Support Scheme Response Has Been Well-received by the Public Since the Announcement A total of 428,659 applications have been received by the Government for the Hong Kong Employment Support Scheme (ESS). Applications closed on 15 June 2020. Out of the total, 168,799 applications were from employers. The…
Technological Research and Development Personnel Can Now Cross Borders As the pandemic continues to loom over most of the world, many economic sectors are at a standstill. Since the outbreak spreads through social contact, countries enforce social distancing. Hence, trade and services take the worst hit because even with technological advances, human contact continues to…
Hong Kong is Set to Start the Ball Rolling With Its Soon-to-be-launched Campaign As the world continues to grapple with the new norms in society and commerce, Hong Kong is taking steps to start a promotional strategy – Relaunch Hong Kong. The impact of Covid-19 has hit Hong Kong tourism sector hard. As a global…