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Government relief measures: Useful information for accountants

The COVID-19 pandemic is causing significant disruption. To help mitigate the effects, the government has introduced more than 70 measures since February to enhance Hong Kong’s capability in combating the pandemic, and provide relief to various sectors of the economy and residents.

The measures in the first round of the Anti-epidemic Fund (AEF) are worth HK$30 billion to provide relief to enterprises and individuals. The 2020-21 Budget included HK$120 billion of support measures for the economy and residents, including HK$10,000 cash payout, and schemes for tourism, retail and the hospitality industries and low income households. The second round of the AEF was approved by the Legislative Council Finance Committee on 18 April with a further HK$137.5 billion of relief measures, including an HK$80 billion Employment Support Scheme (ESS) to help employers retain employees and avoid redundancies. The schemes are currently being disbursed or are open for applications. Finally, the third round of the AEF was announced on 15 September, pending approval by the Legislative Council, providing a further HK$24 billion of relief measures, including procurement of vaccines and provision of further subsidies to assist industries and people affected by the epidemic and help enhance Hong Kong's anti-epidemic capabilities.

To inform members about the relief measures, this webpage contains useful information and links about some of the measures most relevant to accountants. The relief measures' details of the first round, second round and third round of the AEF can also be found.