Hong Kong Sage United Accounting Professionals Committee has submitted financial advice to the Hong Kong government according to the epidemic situation, which has reported on the News on February 23.
Accountant, Edward So, the deputy director of the committee, worked with other members to prepare this recommendation. The Government's response to the four points in the proposal are as follows:
1. Distributing Consumption Voucher: The government adopted the committee’s suggestion of distributing consumption voucher of HKD 10,000, but did not adopt our suggestion on only distribute to citizens who had received injections, and the distribution time continued to be slow, failing to resolve the urgent needs of citizens and SMEs;
2. The maximum salaries tax and profits tax relief remains the same as last year's which is HKD 10,000. It is disappointing that the Government fails to understand the current situation of rapid economic deterioration and increases the tax allowance;
3. Increase the tax exemption for anti-epidemic donations: In Hong Kong, this is a very new, very bold but explosive concept. The government failed to respond immediately and missed a good opportunity to encourage the public to fight the epidemic together;
4. Extending the application period for 100% government-guaranteed loans: It is somehow done, but there is no mention of simplifying the approval process. The details will depend on the details of the implementation later.
Hopefully the Hong Kong government will listen to public opinion, respond quickly and decisively, and implement various policies that benefit the people. Don't be discouraged, keep working hard for Hong Kong!
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