Interest rate for Tax Reserve Certificates adjusted
The Inland Revenue Department announced today (December 27) that starting from January 6, 2025, the new annual rate of interest payable on Tax Reserve Certificates will be 0.4250 per cent against the current rate of 0.5500 per cent, i.e. the new rate will be $0.0354 per month per $100.
Tax Reserve Certificates bear simple interest, and interest is calculated monthly (including part of a month) from the date of purchase to the date of payment of tax. Interest is only credited when certificates are used to pay tax, and no interest is due where the principal value of a certificate is repaid to its holder.
The rate of interest payable on Tax Reserve Certificates is reviewed every month based on the average prevailing interest rate for the 12-month time deposit for $100,000 to $499,999 offered by the three note-issuing banks.
The new rate will apply to all certificates purchased on or after January 6, 2025. Certificates purchased before January 6, 2025 will continue to earn interest at the rates prevailing on their respective purchase dates. Below is a summary of the interest rates for the past periods:
For certificates purchased on or after
August 7, 2023, and before September 4, 2023: |
0.8833 per cent per annum |
For certificates purchased on or after
September 4, 2023, and before June 3, 2024: |
0.9250 per cent per annum |
For certificates purchased on or after
June 3, 2024, and before October 7, 2024: |
0.8833 per cent per annum |
For certificates purchased on or after
October 7, 2024, and before November 4, 2024: |
0.8000 per cent per annum |
For certificates purchased on or after
November 4, 2024, and before December 2, 2024: |
0.7167 per cent per annum |
For certificates purchased on or after
December 2, 2024, and before January 6, 2025: |
0.5500 per cent per annum |
For certificates purchased on or after
January 6, 2025, until further notice: |
0.4250 per cent per annum |
Interest will cease to accrue after 36 months.
Hong Kong Customs holds graduation parade for Customs Youth Leader Corps Winter Training Camp 2024 and "YES Buddy" AI Robot Launching Ceremony
Hong Kong Customs held a graduation parade for the Customs Youth Leader Corps Winter Training Camp 2024 and "YES Buddy" AI Robot Launching Ceremony at the Hong Kong Customs College today (December 27).
During the graduation parade, 60 members of the Customs Youth Leader Corps (CYLC) and 22 in-service Customs personnel who were former CYLC members demonstrated the exceptional discipline and demeanour of the disciplined services through their uniform Chinese-style foot drill. The flag-raising ceremony was conducted by the Foot Drill and Flag Party of the CYLC, the first youth group under the Security Bureau to perform the Chinese-style rifle foot drill, fully reflecting the steadfast commitment of Customs in nurturing patriotism among young people.
The Executive Director of the Executive Committee of Customs YES, Dr Eugene Chan, in his speech said that Customs YES continuously promotes youth development by organising activities such as national education, community services, Customs work experience, career orientation and discipline trainings with an aim to nurture youth leaders with a sense of responsibility, national identity and a global horizon. He also encouraged members to maintain the excellent qualities of the CYLC, namely courage, perseverance and integrity, in the future to contribute to the country and Hong Kong.
During the four-day training camp, participants underwent training on the Chinese-style foot drill, physical fitness and leadership to enhance their team spirit and leadership capabilities. They also visited the Customs Airport Command and the headquarters of the Government Flying Service, and gained a deeper understanding on their work through briefings and a helicopter flight experience.
Following the graduation parade, the Commissioner of Customs and Excise, Ms Louise Ho, Dr Chan and the Director of the Executive Committee of Customs YES, Dr Mark Mak, officiated at the "YES Buddy" AI Robot Launching Ceremony. "YES Buddy" is the first 5G AI publicity robot of Customs. Led by Dr Mak and his team, members from the Innovation & Nurture: Customs YES Robotics Workshop took part in the design of the robot's appearance, functions and programming, embodying the creativity and practice of this innovation and technology learning.
Integrated with artificial intelligence, natural language processing and machine learning technologies, "YES Buddy" can give instant responses to public inquiries about customs work and Customs YES, as well as providing information on membership application matters and activities. Its database also covers knowledge on national security. In the future, "YES Buddy" will serve as a Customs YES ambassador to visit schools and youth gathering places to promote customs work and Customs YES activities, as well as encourage member recruitment and national security education.
Hong Kong Customs will continue to promote Customs YES with a view to fostering the all-round development of young people and nurturing a new generation of youth with an affection for the country and Hong Kong, with global perspectives and positive thinking.
Hong Kong Customs holds graduation parade for Customs Youth Leader Corps Winter Training Camp 2024 and "YES Buddy" AI Robot Launching Ceremony Source: HKSAR Government Press Releases
Hong Kong Customs holds graduation parade for Customs Youth Leader Corps Winter Training Camp 2024 and "YES Buddy" AI Robot Launching Ceremony Source: HKSAR Government Press Releases
Hong Kong Customs holds graduation parade for Customs Youth Leader Corps Winter Training Camp 2024 and "YES Buddy" AI Robot Launching Ceremony Source: HKSAR Government Press Releases
Hong Kong Customs holds graduation parade for Customs Youth Leader Corps Winter Training Camp 2024 and "YES Buddy" AI Robot Launching Ceremony Source: HKSAR Government Press Releases
Hong Kong Customs holds graduation parade for Customs Youth Leader Corps Winter Training Camp 2024 and "YES Buddy" AI Robot Launching Ceremony Source: HKSAR Government Press Releases
Hong Kong Customs holds graduation parade for Customs Youth Leader Corps Winter Training Camp 2024 and "YES Buddy" AI Robot Launching Ceremony Source: HKSAR Government Press Releases
Hong Kong Customs holds graduation parade for Customs Youth Leader Corps Winter Training Camp 2024 and "YES Buddy" AI Robot Launching Ceremony Source: HKSAR Government Press Releases
