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Next Mth's HK Policy Address May Cut Liquor Tax w/ Expensive Drinks Taxed Less: Report
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Hong Kong Chief Executive John Lee will announce in next month's policy address a reduction in liquor taxes, aiming to re-establish Hong Kong as the top destination for nightlife, dining and shopping, Bloomberg reported, citing sources familiar with the matter. Currently, spirits with an alcohol content over 30% in Hong Kong are taxed at a rate of 100%, one of the highest in the world. It is understood that the government is considering a tiered system that imposes lower tariffs on more expensive spirits to boost high-value consumer spending on premium liquors, while discouraging the hoarding of cheap alcoholic beverages to avoid health impacts. Sources indicated that the government is still discussing the liquor tax, and no final decision has been made. AAStocks Financial News |
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