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Update News
Waiver of Business Registration Fees for One Year
(from 1 April 2012 to 31 March 2013)
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The Financial Secretary proposed to waive the business registration fees for one year, starting from 1 April 2012. The Government will introduce the relevant budget legislation into the Legislative Council as soon as possible to effect the proposal.
Implementation Details of the Waiver of Business Registration Fees
- In respect of local companies registered under the One-stop company incorporation and business registration regime ("One-stop Registration"), the fees payable under section 5A(1)(a) will be reduced by a sum of $2,000 if the related incorporation applications are made within the period from 1 April 2012 to 31 March 2013 ("Waiver Period"). For other cases, the fees payable in respect of business registration certificates and branch registration certificates with commencement date falling within the Waiver Period will be reduced by a sum of $2,000 and $73 respectively.
- Businesses are still required to pay the levy for the Protection of Wages on Insolvency Fund.
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