Reduction of Business Registration Certificate Levy for companies (19 July 2013)
The Business Registration Ordinance (Amendment of Schedule 2) Order 2013 (Order) comes into operation today (July 19).
Pursuant to the Order, the rate of the Business Registration Certificate (BRC) levy, which finances the Protection of Wages on Insolvency Fund (the Fund), is reduced from $450 per annum to $250 per annum with effect from July 19.
The new rate is applicable to (1) business registration certificates to be issued on simultaneous business registration applications if the related incorporation applications are made on or after July 19 and (2) for other cases, business/branch registration certificates beginning on or after July 19.
(Source : Information Services Department)