Electronic Consumption Vouchers, Hong Kong Government Measures To Help Employment and Enterprises


Electronic Consumption Vouchers


In 2021, electronic consumption vouchers that is of HK$5,000 in total value are to be distributed to each eligible Hong Kong permanent resident and new arrival aged 18 or above.

The main objective for issuing such electronic consumption vouchers is to boost local retail consumption.

The electronic consumption vouchers are expected to benefit 7.2 million people.


Enterprises


The application period of 100% guarantee low-interest loan for enterprises is to be extended to the end of year 2021. The loan ceiling will be increased to $HK6 million, and repayment period and duration of principal moratorium will be extended.

Business registration fees for the 2021/2022 year is to be waived. This will benefit 1.5 million business operators.

Profits tax for the assessment year of 2020/2021 is to be reduced by 100%, with a cap of $10,000. This reduction is expected to benefit 128,000 businesses.

For eligible tenants of government properties and eligible short-term tenancies and waivers under the Lands Department, 75% rental or fee concession is to be granted. This will start in April 2021, and will last for six months.

For non-domestic households, 75% of water and sewage charges payable with a cap of HK$20,000 (for water) and HK$12,500 (for sewage) are to be waived. This will start in April 2021, and will last for eight months.

For non‑domestic properties, rates concession is to be given for four quarters of 2021‑22, subject to a cap of $5,000 per quarter in the first two quarters, and a cap of $2,000 per quarter in the remaining two quarters for each rateable property.


Employment


HK$6.6 billion is to be allocated to create 30,000 short-term time-limited jobs for a period up to 12 months.

The Employees Retraining Board (ERB) is to launch the fourth tranche funding through the Love Upgrading Special Scheme in July 2021. The scheme will last for 6 months, and will benefit 20,000 trainees by engaging in distance learning.



Free Assessment