Support enterprises Safeguard jobs

• Concessionary low-interest loan
  Introduce a concessionary low-interest loan with 100% Government guarantee for enterprises, which will be open for application for 6 months. Maximum loan of $2 million with repayment period up to 3 years. Moratorium on principal repayment for first 6 months
• Reduce profits tax for 2019-20 assessment year by 100%, subject to a $20,000 ceiling
• Waive rates for non-domestic properties for 2020-21, subject to a ceiling of $5,000 per quarter in first two quarters and $1,500 per quarter for remaining two quarters
• Waive business registration fees for 2020-21
• Waive registration fees for company annual returns for 2 years

Innovation and technology

• Earmark $3 billion to take forward Phase 2 of the Science Park Expansion Programme
• Explore the establishment of a third InnoHK research cluster
• Increase the grant ceiling under the Technology Voucher Programme to $600,000 and raise the Government’s funding ratio to 75%
• Inject $345 million for a pilot subsidy scheme to encourage the logistics industry to enhance productivity through the application of technology

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More Details:?https://www.budget.gov.hk/2020/chi/index.html