Author Archives: hksar gov

     The Home Affairs Department will open 15 temporary night heat shelters tonight (May 24) for people in need of the service.
      
     The shelters will be open from 10.30pm until 8am tomorrow.
      
     For further information, please call the department’s enquiry hotline before midnight on 2835 1473.
      
     The 15 temporary night heat shelters are located at:
      
Hong Kong Districts:
———————
 
Central and Western –
Sai Ying Pun Community Complex Community Hall
3/F, Sai Ying Pun Community Complex,
2 High Street, Sai Ying Pun
 
Eastern/Wan Chai –
Causeway Bay Community Centre
7 Fook Yum Road, Causeway Bay
 
Kowloon Districts:
——————
 
Kowloon City –
Hung Hom Community Hall
1/F, Kowloon City Government Offices,
42 Bailey Street, Hung Hom
 
Kwun Tong –
Lam Tin (West) Estate Community Centre
71 Kai Tin Road, Lam Tin
 
Sham Shui Po –
Shek Kip Mei Community Hall
G/F, Block 42, Shek Kip Mei Estate, Sham Shui Po
 
Wong Tai Sin –
Tsz Wan Shan (South) Estate Community Centre
45 Wan Wah Street, Tsz Wan Shan
 
Yau Tsim Mong –
Henry G Leong Yaumatei Community Centre
60 Public Square Street, Yau Ma Tei
 
New Territories Districts:
————————–
 
Kwai Tsing –
Kwai Shing Community Hall
Podium, Block 6, Kwai Shing West Estate, Kwai Chung
 
North –
Cheung Wah Community Hall
Cheung Wah Estate, Fanling
 
Sha Tin –
Lung Hang Estate Community Centre
Lung Hang Estate, Sha Tin
 
Tai Po –
Tai Po Community Centre
2 Heung Sze Wui Street, Tai Po
 
Tsuen Wan –
Lei Muk Shue Community Hall
G/F, Hong Shue House, Lei Muk Shue Estate, Tsuen Wan
 
Tuen Mun –
Butterfly Bay Community Centre
Butterfly Estate (near Tip Sum House), Tuen Mun
 
Yuen Long –
Long Ping Community Hall
Long Ping Estate, Yuen Long
 
Yuen Long –
Tin Yiu Community Centre
Tin Yiu Estate, Tin Shui Wai read more

     The Secretary for Financial Services and the Treasury, Mr James Lau, on behalf of the Government of the Hong Kong Special Administrative Region, signed in Hong Kong today (May 24) a comprehensive avoidance of double taxation agreement (CDTA) with the Consul-General of Finland in Hong Kong, Mr Jari Sinkari, signifying the Government’s sustained efforts in expanding Hong Kong’s tax treaty network. 

     The CDTA sets out the allocation of taxing rights between the two jurisdictions and will help investors better assess their potential tax liabilities from cross-border economic activities.

     Mr Lau said, “This is the 40th CDTA that Hong Kong has signed with its trading partners. Hong Kong has all along treasured the economic and trade ties with Finland, and I have every confidence that the signing of the CDTA will bring our bilateral relations to a new level.”

     In 2017, Finland was Hong Kong’s 50th largest trading partner. Following the conclusion of the CDTA with Finland, Hong Kong has signed CDTAs with 16 member states of the European Union.

     Under the CDTA, double taxation will be avoided in that any Finnish tax paid by Hong Kong companies will be allowed as a credit against the tax payable in Hong Kong on the same profits, subject to the provisions of the tax laws of Hong Kong. Likewise, for Finnish companies, the tax paid in Hong Kong will be allowed as a deduction from the tax payable on the same income in Finland.

     Moreover, the agreement provides the following tax relief arrangements:

(a) Finland’s withholding tax rates for Hong Kong residents on dividends and royalties (currently at 20 per cent for companies and 30 per cent for individuals) will be capped at 5 per cent/10 per cent on dividends (depending on the percentage of shareholdings) and 3 per cent on royalties;

(b) Hong Kong airlines operating flights to Finland will be taxed at Hong Kong’s corporation tax rate, and will not be taxed in Finland; and 

(c) Profits from international shipping transport earned by Hong Kong residents arising in Finland will be exempt from tax in Finland.

     The Hong Kong-Finland CDTA has also incorporated an article on exchange of information, which enables Hong Kong to fulfil its international obligations on enhancing tax transparency and combating tax evasion.

     The CDTA will come into force after the completion of ratification procedures by both sides. In the case of Hong Kong, the CDTA will be implemented by way of an order to be made by the Chief Executive in Council under the Inland Revenue Ordinance (Cap. 112). The order is subject to negative vetting by the Legislative Council.

     Details of the Hong Kong-Finland CDTA can be found on the Inland Revenue Department’s website (www.ird.gov.hk/eng/pdf/Agreement_Finland_HongKong.pdf).

     Hong Kong will continue to negotiate with trading and investment partners, with a view to expanding its CDTA network. read more

     The Secretary for Commerce and Economic Development, Mr Edward Yau, arrived at Port Moresby, Papua New Guinea today (May 24) to attend the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting tomorrow.
 
     Soon after his arrival in Port Moresby, Mr Yau held bilateral meetings with the Vice Minister of Commerce, Mr Wang Shouwen, and the ASEAN Secretariat Secretary-General, Dato’ Lim Jock Hoi. They exchanged views on regional trade issues against the background of the current volatility of global trade.
 
     To promote sustainable, innovative and inclusive growth in the region, APEC this year has adopted the theme “Harnessing Inclusive Opportunities, Embracing the Digital Future”, with discussions focusing on how APEC embraces new challenges in the digital age under three priorities, namely improving connectivity and deepening regional economic integration; promoting sustainable and inclusive growth; and strengthening inclusive growth through structural reform. Mr Yau will participate in all the panel discussions.

    

     Following is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong Disneyland Welcome Party for “Moana: A Homecoming Celebration” today (May 24):
 
Mike (President and Managing Director of Walt Disney Parks and Resorts, Asia Pacific, Mr Michael Colglazier), Sam (Managing Director of Hong Kong Disneyland Resort, Mr Samuel Lau), Anthony (Executive Director of the Hong Kong Tourism Board, Mr Anthony Lau), Consul General (Consul General of the United States to Hong Kong and Macau, Mr Kurt Tong), distinguished guests, ladies and gentlemen,
 
     Good afternoon.
 
     I am delighted to be here today. It’s indeed not often I get to watch a stage show during office hours. And I’m certainly looking forward to the very first public showing of “Moana: A Homecoming Celebration”. I’m told that rare pleasure is ours immediately following today’s opening ceremony celebrating the latest addition to Hong Kong Disneyland.
 
     The show, of course, is based on “Moana”, the 2017 Academy Award-nominated animated feature film from Disney.
 
     It is also the very first “Moana” stage production to be featured at a Disney theme park around the world.
 
     And there’s more good news. “Moana: A Homecoming Celebration” is just the beginning of a series of new attractions under the multi-year expansion and development plan of the Hong Kong Disneyland.
 
     The plan is being jointly funded by the Hong Kong SAR Government and Disney. And it will fuel expansion of the park’s world-class entertainment offerings right through 2023.
 
     That’s marvellous news for park visitors, for Hong Kong Disneyland Resort and, no less, for the Hong Kong economy. Enhancing our entertainment attractions and offerings can only attract more tourists to Hong Kong from all over the world.
 
     The Resort, of course, has done a good job of that since its opening back in 2005, welcoming more than 70 million visitors from all over the world.
 
     Boosting Disneyland’s appeal through new attractions and offerings is, and will continue to be, a high priority.
 
     It’s a strategy that’s working well. Over the past two years, “Star Wars” and Iron Man have turned into resident superheroes, capturing the imagination of our park visitors. And I have no doubt that the inspired musical theatre, and visual storytelling, of “Moana” will do very much the same – captivate the world, right here at Hong Kong Disneyland.
 
     And there’s more magic on the way. Next year, Ant Man and the Wasp will set up home at the park – here to take on all villains in thrilling, non-stop adventure.
 
     Hong Kong, I should add, is also up to some pretty amazing stuff these days.
 
     This year alone, two world-class infrastructure developments near the park are slated to open. I’m talking about the Hong Kong-Zhuhai-Macao Bridge and the Hong Kong Section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link.
 
     All that state-of-the-art connectivity between Hong Kong and the Mainland can only boost the flow of business people, tourists and superheroes, creating unprecedented opportunities for Disney.
 
     Thank you. Now, ladies and gentlemen, let’s get on with the show.

      

     To combat climate change, the Government is actively promoting the development of renewable energy (RE) to encourage and support the community to install distributed RE systems. The Electrical and Mechanical Services Depar… read more