The waiver, valid for one year, will benefit various sectors, including maritime, logistics, retail, catering, agriculture and fisheries, construction and tourism.
The majority of the waiver measures will take effect from October 1, while the remainder will be effective from October 21, 2019 to January 1, 2020.
After publication in the Gazette, the regulations and the order will be tabled at the next sitting of the Legislative Council for negative vetting.
The revenue forgone from the waiver is about $1.569 billion.
Lend your friend $20, if he doesn’t pay you back then he’s not your friend. Money well spent.