Latest news with #costRecovery
South China Morning Post
26-05-2025
- Business
- South China Morning Post
Hong Kong to earn extra HK$104 million yearly from visa, passport fee rises
Hong Kong authorities have proposed raising application fees for a raft of visas and identity documents to generate an additional HK$104 million (US$13.3 million) in income annually, with a 48-page passport to cost as much as HK$520. Advertisement The Security Bureau revealed its proposal to increase fees for 28 services in a document submitted to the legislature on Monday, with rates projected to rise by between 3 per cent and 51 per cent and take effect in September. Last revised in 2000, the fee for issuing a 48-page passport for people aged 16 or above will rise by 13 per cent from HK$460 to HK$520. Children under 16 will be charged HK$260, up from HK$230. A 32-page passport for people 16 or above will cost HK$430, a 16 per cent increase from the current HK$370. Younger Hongkongers will have to pay HK$215, up from HK$185. The rates were last amended in 2006. The proposal is expected to generate an extra HK$104 million more for the public coffers every year, according to authorities. Advertisement The bureau explained that the price review was based on 'cost recovery' and 'user-pays' principles, as the fees should be 'adequate to recover the full cost of providing the goods or services' in general.
South China Morning Post
26-05-2025
- Business
- South China Morning Post
Hong Kong to earn HK$104 million yearly from proposed visa, passport fee rise
Hong Kong authorities have proposed raising application fees for a raft of visas and identity documents to generate an additional HK$104 million (US$13.3 million) in income annually, with a 48-page passport to cost as much as HK$520. The Security Bureau revealed its proposal for fee increases on 28 services on Monday in a document submitted to the legislature, with revised rates projected to rise by 3 per cent to 51 per cent and take effect in September. Last revised in 2000, the fee for issuing a 48-page passport for people aged 16 or above will rise by 13 per cent from HK$460 to HK$520, while that for individuals below 16 years old will be priced at HK$260, up from HK$230. A 32-page passport for people aged 16 or above will cost HK$430, a 16 per cent increase from the current HK$370. Hongkongers below 16 years old will have to pay HK$215, up from HK$185. The rates were last amended in 2006. The proposal is expected to yield about HK$104 million to the public coffers every year, according to authorities. The bureau explained that the price review was based on 'cost recovery' and 'user pays' principles, as the fees should be 'adequate to recover the full cost of providing the goods or services' in general. The proposal would improve the cost recovery rate, with the minimum increasing from 14 per cent to 19 per cent and the maximum reaching 100 per cent from 94 per cent.
