Waiver of Business Registration Fees for One Year

(from 1 April 2013 to 31 March 2014)

The Financial Secretary proposed to extend the waiver of business registration fees for one year, starting from 1 April 2013. 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) of the Business Registration Ordinance (Cap. 310) will be reduced by a sum of $2,000 if the related incorporation applications are made within the period from 1 April 2013 to 31 March 2014 (“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.

Please refer to the business registration fee & levy table for details of the total amount payable in respect of a certificate.

Concessionary Refund of Registration Fees Paid

The proposal only relates to the waiver of one year registration fees for the incorporation applications made under the One-stop Registration within the Waiver Period or, in other cases, 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.

In order that businesses that have paid the registration fees for the Waiver Period but are not required to renew their certificates in the period can also benefit from the waiver, concessionary refunds of the relevant amount of business registration fees paid will be made, upon applications. They include :

(a)

Businesses or branches, which hold a 3-year registration certificate with a commencement date before 1 April 2013 and an expiry date on or after 31 March 2014; and

(b)

Ceased businesses or branches, which last hold a 3-year registration certificate with an expiry date between 1 April 2013 and 31 March 2014.

The IRD will announce the application and refund procedures after the relevant budget legislation is passed by the Legislative Council.

FAQ