Moderation in Hong Kong’s Gross Domestic Product (GDP) Growth for First Quarter of 2019 The Hong Kong’s Census and Statistics Department (“C&SD”) has recently released the advance estimates on Gross Domestic Product (“GDP”) for the first quarter of 2019 of Hong Kong. The C&SD has fast-tracked the first release of quarterly GDP to approximately 1…
Hong Kong’s April Inflation Showed an Upward Trend in Several Categories According to the announcement of Hong Kong’s Census & Statistics Department (“the Department”), the country’s consumer price stood at 2.9 per cent year-on-year in April 2019, 0.8 per cent above market expectations. Price Hike In Several Categories Hong Kong’s April Inflation – saw…
A Close-up View of Second Quarter’s Business Performance of Hong Kong in 2019 Released by the C&SD The results of the Quarterly Business Tendency Survey (“QBTS”) for the second quarter (Q2) of 2019 were released by the Census and Statistics Department (C&SD) of Hong Kong on April 26. Business Situation According to the QBTS,…
Filing Your Tax Return On Time in Hong Kong to Inland Revenue Department (IRD) The Inland Revenue Department (IRD) Hong Kong requires taxpayers in Hong Kong to file their tax returns within one month from the date of issues of the returns. The 2018/19 tax returns were issued to taxpayers in Hong Kong on 2…
Waiver of Business Registration Fees for Hong Kong Companies From 2019-2020 From the period of 1st April 209 up to 31st March 2020, the prescribed Business Registration Fee for non-Hong Kong companies will be discounted by an amount of HK$2,000. The Prescribed Fee for Registration of a Company and Business The prescribed fee for…
Virtual Banks in Hong Kong: Will We Be Seeing More of These in the Future? Hong Kong. Experts forecasted that a breed of financial technology firms will gain revenue of up to 30 percent. This may become a huge setback for traditional banks in Hong Kong. Thus far, there has been 3 virtual banks that…
Hong Kong Is World’s Freest Economy According to Heritage Foundation For the 25th year in a row, Hong Kong has been named by Heritage Foundation as the world’s freest economy. The country is honoured to receive this high regard. Hong Kong maintained an overall score of 90.2 in the Index of Economic Freedom report 2019.…