HKSI Institute AR2023

67 HKSI Institute Annual Report 2023 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) (Expressed in Hong Kong dollars unless otherwise indicated) 4 REVENUE AND OTHER INCOME (continued) (b) Other income 2023 2022 Government grants (Note) $ 1,525,200 $ – Donation received 950,000 – Service fee received from Pilot Programme (note 15) 800,000 1,160,000 Others 701,278 480,868 $ 3,976,478 $ 1,640,868 Note: In 2022/23, the Group successfully applied for funding support from the Employment Support Scheme under the Anti-epidemic Fund, set up by the Hong Kong SAR Government. The purpose of the funding is to provide financial support to employers to retain their current employees. Under the terms of the grant, the Group is required to employ a sufficient number of employees with reference to its proposed employee headcounts. 5 STAFF COSTS 2023 2022 Salaries, wages and other benefits $ 37,863,766 $ 36,532,930 Contributions to provident fund 982,692 1,029,533 $ 38,846,458 $ 37,562,463 6 AUDITORS’ REMUNERATION The position of the auditors of the Institute is honorary and therefore no auditors’ remuneration was paid during the year (2022: HK$Nil). 7 DIRECTORS’ EMOLUMENTS None of the directors received or will receive any fees or emoluments that should be disclosed pursuant to section 383(1) of the Hong Kong Companies Ordinance and Part 2 of the Companies (Disclosure of Information about Benefits of Directors) Regulation during the year (2022: HK$Nil). 8 TAXATION The Institute is a professional association and not more than half of the receipts by way of subscriptions are from persons who would be entitled to claim their subscriptions as allowable deductions for the purpose of Hong Kong Profits Tax. The Institute is therefore not subject to Hong Kong Profits Tax under section 24(2) of the Hong Kong Inland Revenue Ordinance. Accordingly, no provision for Hong Kong Profits Tax has been made in the financial statements. During the year, corporate income tax expense of HK$21,015 (2022: HK$199,506) was recognised from a subsidiary of the Group in the People’s Republic of China.