|2018/11/06||Joint Submission to Beijing on Personal Income Tax|
The PRC Ministry of Finance and the PRC State Administration of Taxation jointly released the Consultation Draft on the Detailed Implementation Rules of the PRC Individual Income Tax Law and the Provisional Implementation Measures of the Additional Itemized Deductible Items for public comment on 20 October, 2018. The four major local chambers jointly submitted a letter to the Ministries of Finance and State Administration of Taxation on 14 November to reflect Hong Kong businesses’ concerns and suggestions.
|2018/11/05||Proposed Amendments to the Occupational Retirement Scheme Ordinance|
The Chamber supports the Government’s efforts to implement anti-tax avoidance measures for plugging the loopholes of misusing or abusing Hong Kong to obtain ORSO exemption. We also call for a proper regulatory assessment in certain areas to ensure Hong Kong’s competitiveness would not be undermined, in particular an absolute ban on new exemption applications under ORSO.
|2018/10/18||Consultation Paper on Legislative Proposal to Upgrade Fire Safety of Old Industrial Buildings|
The Chamber appreciates the Government’s effort to update fire safety standards in pre-1987 industrial buildings as a means to enhance public safety. At the same time, the Chamber has pointed to the need for flexibility in the application of the standards to take into account variances in the design and structure of industrial buildings. The Chamber has also called for a review of the Code of Practice for Minimum Fire Service Installations and Equipment to better cater for technological advancements and changes in commercial use in the industrial buildings.
|2018/09/17||Proposed Framework of Known Consignor Validation Scheme for Hong Kong-based consignors|
The Chamber supports the proposal to introduce a Known Consignor Validation Scheme in Hong Kong that is consistent with new international air cargo safety obligations. In addition to supporting the proposed implementation of third-party operated screening facilities at off-airport locations, the Chamber also suggests conferring “Known Consignor” status to shippers that are already accredited under the U.S. Customs-Trade Partnership Against Terrorism (C-TPAT) programme and/or the World Customs Organization’s Authorized Economic Operators (AEO) scheme, given the similarities in safety requirements.
|2018/09/11||Public Consultation on Land for Hong Kong: Our Home, Our Say!|
The Chamber supports a multi-pronged and holistic approach to enhancing land supply for all purposes including housing. To this end, the Government should establish a single policy unit to oversee all land and housing related policies, map out a long-term, stable and reliable land supply plan with a clear deliverable timetable, and expedite and simplify the development process, as well as the town planning process.
|2018/09/11||Chamber Submission to the 2018/19 Policy Address|
In its recommendations to the Chief Executive’s 2018/19 Policy Address, the Chamber has identified a number of priority areas where policy focus should be given. These include good regulatory practices, and adequate land and manpower supply. Other crucial areas include developing Hong Kong into a leading Smart City, and capitalising on opportunities arising from the Greater Bay Area and Belt and Road initiatives.
|2018/09/11||Public Consultation on Policy Review of Private Recreational Leases|
In the interest of clarity and certainty, renewal of private recreational leases should be the norm unless there are compelling reasons such as non-compliance with lease conditions or overriding public interest to justify non-renewal. There are also reservations about the proposal to charge private sports clubs a higher land premium as this could jeopardize the ability of these clubs to carry on as viable entities and contribute to sports development in Hong Kong.
|2018/07/04||Development of Site 3 at Central Harbourfront|
Hong Kong’s iconic Central Harbourfront is of key importance to the city, therefore the Chamber believes that the highest price should not be the main criterion when determining who wins the tender for the development of Site 3. A “two-envelope” approach -- whereby design proposals are assessed before financial submissions are considered -- would help ensure that the development provides a pleasant environment for citizens while helping maximize the city’s appeal to tourists.
|2018/05/31||Proposed enhancements to the HKQAA's Green Finance Certification Scheme|
The Chamber supports the establishment of a Green Finance Certification Scheme although it believes enhancements should be made to the existing framework.
|2018/05/18||Public Consultation on the Review of the Statutory Minimum Wage Rate (“the Review”): Response by Hong Kong General Chamber of Commerce ("HKGCC")|
In view of Hong Kong’s strong economic performance and a positive outlook, HKGCC agrees that a moderate increase in SMW could be considered. Nevertheless, we should note that an excessive hike in the level of SMW could have a number of dire consequences. Therefore, attention should be given to a basket of factors such as the economic conditions, supply and demand, impact to businesses and cost of living, among others when reviewing SMW.