Hong Kong Plans to Cut Tax on Liquor in Bid to Revive Nightlife
- Reduction expected to be announced at Lee’s policy address
- Officials mulling tiered mode with expensive drinks taxed less
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Hong Kong is planning to lower the amount of tax it levies on spirits, according to people familiar with the matter, as the Asian financial center seeks to regain its edge as a premier destination for nightlife, dining and shopping.
The reduction is expected to be one highlight of Hong Kong Chief Executive John Lee’s policy address in mid-October, the people said, asking not to be identified because the deliberations are private. Liquor that has an alcohol content of more than 30% currently attracts a duty equivalent to 100% of its value in Hong Kong — among the highest anywhere in the world.