Financial Secretary Paul Chan announced the fourth round of nine relief measures at a press conference, including:
1) waivers for non-residential users from 75% of water and sewage charges, with water and sewage charges capped at $20,000 and $12,500. The measure will cost the government $340 million until 31 March 2020, possibly benefiting 250,000 non-residential users.
2) provision of 75% power tariff subsidies (i.e. $4,000 per month) to non-residential users for four months, involving $2.3 billion and potentially benefiting 430,000 users.
3) waivers for non-residential properties of $5,000 per quarter, up from $1,500. This will cost the government $600 million and likely benefiting 260,000 non-residential property owners.
4) installment payments for taxpayers to settle their 2018/19 profit tax, salaries tax or personal assessment tax payments within a year.
The above measures involve a total of over $4 billion, some of which requires funding from the Legco Finance Committee, Chan added.
AAStocks Financial News
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