In his third policy address delivered at the Legislative Council this morning (Oct. 16), Chief Executive John Lee announced immediate reductions in liquor taxes to stimulate alcohol consumption.
At present, Hong Kong imposes a duty of 100% on the import price of liquor (with alcoholic strength of more than 30%).
To promote liquor trade and boost the development of high value‑added industries including logistics and storage, tourism as well as high‑end food and beverage consumption, the Government has made reference to the successful experience of driving the wine trade through exemption of wine duty, and will, starting today (Oct. 16), reduce the duty rate for liquor with an import price of over HK$200 from 100% to 10% for the portion above HK$200, while the duty rate for the portion of HK$200 and below, as well as liquor with an import price of HK$200 or below will remain unchanged.
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