From April 1, 2008 to March 31, 2009, the business registration fees have been reduced from $2,450 to $450.
The Revenue (Reduction of Business Registration Fees) Order 2008 only related to the waiving of registration fees for new certificate or renewal certificate with commencement date in year 2008-09. It does not provide for refund of the 2008-09 registration fee paid.
In order that business that have already paid the 2008-09 business registration fees or branch registration fees are not required to renew their registration certificates in the year 2008-09 can also benefit from the concession, concessionary refund will be allowed to them.
The beneficiary are: businesses holding 3-year certificates with expiry dates on or after 31 March 2009 will be eligible for application of concessionary refund of 2008-09 registration fee paid.
The Business Registration Office will proportionately refund the amount of business registration fee or branch registration fee paid by reference to the validity period of the certificate held by the business, the number of days in the year 2008-09 and the amount of registration fees paid. The maximum refund amount is $2,000 for a business registration certificate and $73 for a branch registration certificate respectively.