[Financial Budget 2023/Electronic Consumer Coupons/Pay Sugar/Chen Maobo/Tax Reduction/Deduction/Rate Reduction/Tax Allowance] Financial Secretary Chen Maobo announced a new budget today (22nd), which mentioned Hong Kong The exchange is exploring the arrangements for the continued operation of the market under severe weather, etc., which means that the market may have the opportunity to maintain operation in the event of typhoon signal No. 8 or black rainstorm in the future.
Financial Secretary Chen Maobo said that the Hong Kong Stock Exchange will explore a series of proposals to optimize the trading mechanism, including exploring the arrangements for the market to continue to operate under bad weather, reviewing the self-execution prevention function and related restrictions, so as to facilitate investor transactions and cooperate with market development. trend.
It was reported earlier that the Hong Kong Stock Exchange is the only major exchange in the world that will be closed due to bad weather, which usually happens several times a year.
Stock exchanges in cities such as New York, Frankfurt, Tokyo and New Delhi can continue to trade during unforeseen events such as natural disasters.
In September last year, a strong typhoon hit the southern coast of South Korea, causing power outages and flooding in parts of the country, but the Korean market remained open as usual.
Not limited to the Hong Kong Stock Exchange, when bad weather occurs and relevant signals are hoisted, banks in Hong Kong will be temporarily closed and transactions cannot be settled.
What tax cuts are in the new Budget?
Financial Secretary Chen Maobo announced that the salaries tax and personal income tax for the year of assessment 2022/23 will be reduced by 100%, with a ceiling of $6,000.
What other measures to distribute sugar to benefit the people in the new budget?
In addition to reducing the 100% salaries tax and personal income tax for the 2022/23 tax year, the Hong Kong government will distribute $5,000 electronic consumer coupons to eligible citizens and reduce the rates for the first two quarters of 2023/24. Residential properties With a cap of $1,000 per household per quarter, and the extension of the "Public Transport Fare Subsidy Scheme" until October this year, etc.
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