Revised licence fees for Hotels and Guesthouse Accommodation
published
************************************************************ The Hotel and Guesthouse Accommodation (Revision of Licence Fees) Regulation 2005, which provides for the issue and renewal of licences for hotels and guesthouse accommodation, is published in the Gazette today (October 28).
The Hotel and Guesthouse Accommodation Ordinance (Chapter 349) (HAGAO) provides for multiple years of licensing in respect of a hotel/guesthouse for up to seven years (i.e. from 12 months to 84 months). A costing exercise at 2004-05 price level was carried out by the Government to review the costs under the Hotel and Guesthouse Accommodation (Fees) Regulations(Cap.349B)(the Regulations). The exercise showed that the current fee levels cover 45 per cent to 99 per cent of the full cost of issue of new licences, and 83 per cent to 108 per cent of that of renewal of licences. The fees under the Regulations was adjusted in accordance with the guidelines provided by the Financial Services and Treasury Bureau.
Full-cost recovery for all fee increments will be achieved within a period of one to seven years through annual increase ranges from 10 per cent to 20 per cent. As for fee reductions, the fees will be reduced to the full cost level in one go.
The Hotel and Guesthouse Accommodation (Revision of Licence Fees) Regulation 2005 will be tabled at the Legislative Council on November 2. The Amendment Regulation is expected to take effect on January 1, 2006.
published
************************************************************ The Hotel and Guesthouse Accommodation (Revision of Licence Fees) Regulation 2005, which provides for the issue and renewal of licences for hotels and guesthouse accommodation, is published in the Gazette today (October 28).
The Hotel and Guesthouse Accommodation Ordinance (Chapter 349) (HAGAO) provides for multiple years of licensing in respect of a hotel/guesthouse for up to seven years (i.e. from 12 months to 84 months). A costing exercise at 2004-05 price level was carried out by the Government to review the costs under the Hotel and Guesthouse Accommodation (Fees) Regulations(Cap.349B)(the Regulations). The exercise showed that the current fee levels cover 45 per cent to 99 per cent of the full cost of issue of new licences, and 83 per cent to 108 per cent of that of renewal of licences. The fees under the Regulations was adjusted in accordance with the guidelines provided by the Financial Services and Treasury Bureau.
Full-cost recovery for all fee increments will be achieved within a period of one to seven years through annual increase ranges from 10 per cent to 20 per cent. As for fee reductions, the fees will be reduced to the full cost level in one go.
The Hotel and Guesthouse Accommodation (Revision of Licence Fees) Regulation 2005 will be tabled at the Legislative Council on November 2. The Amendment Regulation is expected to take effect on January 1, 2006.
Ends/Friday, October 28, 2005
Issued at HKT 19:15
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