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Hong Kong Government Waives of Business Registration Fees for One Year

Hong Kong Government Waives of Business Registration Fees for One Year
(from 1 August 2010 to 31 July 2011)

 

Reduction of Business Registration Fees

1. The Revenue (Reduction of Business Registration Fees) Order 2010 (“the Order? comes into effect on 1 August 2010.
2. By the Order, the fees payable in respect of business registration certificates and branch registration certificates with commencement date falling within the period from 1 August 2010 to 31 July 2011 (“Waiver Period? will be reduced by a sum of HKD2,000 and HKD73 respectively.
3. Businesses are still required to pay the levy for the Protection of Wages on Insolvency Fund.
4. Please refer to the business registration fee & levy table for details of the total amount payable under a certificate.
5. The Business Registration Office will not demand businesses or branches the registration fees for the Waiver Period in the notice of renewal and payment in respect of certificates with commencement date falling within the Waiver Period. Hence, those who receive demand notes from the Business Registration Office have to settle the amounts demanded thereon when due.
   

Concessionary Refund of Registration Fee Paid

6. The Order only relates to the waiver of one-year registration fees for new certificates or renewal certificates with commencement date falling within the Waiver Period. It does not provide for the refund of fees paid in respect of the Waiver Period.
7. In order that the waiver can also benefit those businesses that have paid the registration fees for the Waiver Period but are not required to renew their certificates in such period, concessionary refunds of the relevant amount of business registration fees paid for the Waiver Period will be allowed to them, upon their applications.
Who is eligible
8. The following types of businesses:-
  (a) Businesses or branches, which hold a 3-year certificate with a commencement date before 1 August 2010 and an expiry date on or after 31 July 2011; and
  (b) Ceased businesses or branches, which last held a 3-year registration certificate with an expiry date falling within 1 August 2010 to 31 July 2011.
9. Based on the information in its database, the Business Registration Office will start issuing invitation letter and the application form IRBR188(4/2010) from mid August 2010 to businesses that are eligible to apply for the refund. If the business operator wishes to apply for the concessionary refund, he needs to complete and return the duly signed application form to the Business Registration Office, either by post to P.O. Box 29015 Gloucester Road Post Office, Hong Kong or in person at 4/F Revenue Tower, 5 Gloucester Road, Wanchai, Hong Kong.
10. Where a business is eligible for the concessionary refund but does not receive the invitation letter and the application form from the Business Registration Office, the business operator may download the application form IRD’s homepage www.bycpa.com (IRBR188(4/2010)) or obtain it by fax (fax number: 2824 1482), by post or in person at the IRD Office.
11. The application should be made by:
  (1) the sole proprietor ?in respect of a sole proprietorship business and its branch;
  (2) any of the partners ?in respect of a partnership business and its branch;
  (3) the secretary, manager or any of the directors ?in respect of a company and its branch; and
  (4) any of the principal officers ?in respect of a body of persons and its branch.
12. The application should be submitted to the Business Registration Office on or before 31 December 2011.
How much will be refunded
13. The Business Registration Office will proportionately refund the amount of business registration fee or branch registration fee paid by reference to the validity period of the certificate held by the business, the number of days in the Waiver Period and the amount of registration fees paid. Please refer to the illustrative examples in the Computation of the Refund Amount.
14. Since the concessionary refund concerned only applies to the second or third year of a 3-year certificate, the refund amount shall not be more than HKD1,600 and HKD58 for a business registration certificate and a branch registration certificate respectively.
15. Levy for the Protection of Wages on Insolvency Fund paid will NOT be refunded.
When to issue the refund
16. If the application is approved, the Business Registration Office will issue the refund cheque within 21 working days from the date of receipt of the application.
In light of the reduction in Business Registration Fees by the Hong Kong Government, we have adjusted our fees for Hong Kong company accordingly. The fees listed in our website in relation to Hong Kong company registration already included the reduction.


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