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Gazettal of Rating (Exemption) Order 2023
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     The Rating (Exemption) Order 2023 will be gazetted on March 3. The order seeks to implement one-off rates concessions proposed in the 2023-24 Budget to strengthen the economic recovery momentum.
 
     The Budget has proposed to waive rates for the first two quarters of 2023-24, with the concession ceiling of $1,000 per tenement per quarter. The proposed rates concession will benefit about 3.46 million properties, leading to revenue forgone of about $6 billion.
 
     The order will be tabled at the Legislative Council for negative vetting on March 15.
 
Ends/Wednesday, March 1, 2023
Issued at HKT 15:05
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