The HKSAR 2019-20 Budget - Highlights Of Support Measures For Enterprises

The HKSAR 2019-20 Budget has announced several proposals to support Small and Medium Enterprises and several tax measures, details as follow:

  1. Waive the business registration fees for 2019-20
  2. Regularise the Technology Voucher Programme and double the funding ceiling for enterprises to $400,000
  3. Inject $1 billion into the Dedicated Fund on Branding, Upgrading and Domestic Sales, extend its geographical scope and increase the funding ceiling for enterprises
  4. Extend the application period of the special concessionary measures under the SME Financing Guarantee Scheme to end June 2020
  5. Reduce salaries tax and tax under personal assessment for Year of Assessment 2018-19 by 75% subject to a ceiling of $20,000
  6. Reduce profits tax for Year of Assessment 2018-19 by 75%, subject to a ceiling of $20,000

For more details, please refer to https://www.budget.gov.hk/2019/eng/nt.html, thank you!

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