Author Archives: hksar gov

     To tie in with the Government’s announcement that special work arrangements for government employees to provide emergency and essential services will be extended until August 9, a spokesman for the Transport and Housing Bureau said today (July 31) that during the period, the Independent Checking Unit (ICU) under the Office of the Permanent Secretary for Transport and Housing (Housing) will provide drop-in boxes to receive building control applications related to building plan submissions under the Buildings Ordinance and the specified forms and supporting documents required to be submitted under the Minor Works Control System, the Mandatory Building Inspection Scheme and the Mandatory Window Inspection Scheme. Applicants can place their submissions in the drop-in boxes located at 8/F, Lung Cheung Office Block, Wong Tai Sin, Kowloon, from 10am to 4pm, Monday to Friday over the period. The ICU will issue receipts/acknowledgements of the submissions in due course. Members of the public, when entering Lung Cheung Office Block and offices of the ICU, shall wear masks at all times and comply with the infection control measures including temperature checks and crowd control arrangements.

     For emergency reports and general enquiries, people may call 1823 or inform the ICU by email, post or fax:

Email: icuebt@hd.gov.hk  
Mailing address: 8/F, Lung Cheung Office Block, Wong Tai Sin, Kowloon
Fax: 3162 0069 read more

     In view of the extension of the special work arrangements for government departments to August 9, the Inland Revenue Department announced today (July 31) that from August 3 it will continue to suspend the provision of all of its public services, except for the following:
 

Offices	Opening hours
Central Enquiry Counter (only for enquiries relating to tax clearance for taxpayers leaving Hong Kong)	From 9am to noon and 1.30pm to 4pm, Monday to Friday
Central Telephone Enquiry	From 9am to 12.30pm and 1.30pm to 4pm, Monday to Friday
Business Registration Office	From 9am to noon and 1.30pm to 4pm, Monday to Friday
Stamp Office	From 9am to noon and 1.30pm to 4pm, Monday to Friday

     The department appeals to members of the public for their understanding that the above services will only be provided at a much reduced scale and that services in all other areas will not be provided at the service counters. They should also be prepared to experience a longer waiting time before they can be served. The department encourages the public to use its electronic services to handle their tax affairs as much as possible. A list of such services can be found on the department’s website at www.ird.gov.hk/eng/ese/index.htm.

     The department further announced that deadlines for tax payments (not applicable to “Auto Tax Payment Service” under the Tax Reserve Certificates Scheme), lodgement of objections and holdover applications, as well as submission of tax returns and information that fall between July 20 and August 9 will be automatically extended to August 10.

     The department will review the situation and make further announcements as necessary.  read more

The following is issued on behalf of the Hong Kong Monetary Authority:        The Hong Kong Monetary Authority announced today (July 31) the results of its survey on residential mortgage loans (RMLs) in negative equity a… read more

     The Government announced today (July 31) its financial results for the three months ended June 30, 2020.        Expenditure for the period April to June 2020 amounted to HK$176.8 billion and revenue H… read more

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) announced today (July 31) that the total assets of the Exchange Fund amounted to HK$4,195.3 billion as at June 30, 2020, HK$113.4 billion higher than that at the end of May 2020. Hong Kong dollar assets increased by HK$87.2 billion and foreign currency assets increased by HK$26.2 billion.
      
     The rise in Hong Kong dollar assets was mainly due to an increase in Exchange Fund Bills and Notes issued but not yet settled and the mark-to-market revaluation on Hong Kong equities. The rise in foreign currency assets was mainly due to the purchase of US dollars through the trigger of strong-side convertibility undertaking under the Currency Board arrangements and the mark-to-market revaluation of investments denominated in foreign currencies, which were partly offset by a decrease in unsettled purchase of securities.
      
     The Currency Board Account shows that the Monetary Base at the end of June 2020 was HK$1,748.9 billion, increased by HK$39.3 billion, or 2.3 per cent, from the end of May 2020. The rise was mainly due to the sale of HK dollars under the Currency Board arrangements.
      
     The amount of Backing Assets increased by HK$38.9 billion, or 2.0 per cent, to HK$1,953.1 billion. The increase was mainly attributable to the purchase of US dollars under the Currency Board arrangements. The backing ratio decreased from 111.97 per cent at the end of May 2020 to 111.68 per cent at the end of June 2020.
 
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     At present, four press releases relating to the Exchange Fund’s data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS). The fourth press release, on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA’s policy of maintaining a high level of transparency. For the month of July 2020, the scheduled dates for issuing the press releases are as follows:
 

July 7 (Issued)	SDDS International Reserves (Hong Kong’s Latest Foreign Currency Reserve Assets Figures)
July 14 (Issued)	SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund)
July 31	SDDS Template on International Reserves and Foreign Currency Liquidity
July 31	Exchange Fund Abridged Balance Sheet and Currency Board Account

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