Bloomberg quoted people familiar with the matter and said that Hong Kong is planning to reduce the liquor tax.
People familiar with the matter said that it is expected that this reduction will become a highlight of Hong Kong Chief Executive Li Jiachao when he published a policy report in mid -October.All wines with more than 30%of Hong Kong's current alcohol concentrations need to pay a tariff equivalent to 100%of its value, which is the highest level in the world.
For the details of the lowered details, a person familiar with the matter said that a method that the Hong Kong government is considering is to adopt a layered tax system, that is, less taxes are levied on more expensive spirits.People familiar with the matter also said that this is regarded as high -end wine consumption that can promote high -end consumer groups, while inhibiting consumers' hoarding cheap wine to reduce health risks.
People familiar with the matter said that the discussion around the liquor tax has not been finalized, and it may still change.
If this is implemented, it will be the latest efforts made by Hong Kong to regain sales of restaurants, bars and retailers. After the crown disease epidemic, these places are struggling with decreased tourists.Due to the downturn in real estate and financial markets, local consumer expenditure also slowed down.
According to reports, the above plan also reflects Hong Kong's ambition to become the center of Essean Trading.According to a report from the World Berlifted Wine Alliance in July, the spirits industry is estimated to contribute $ 730 billion (S $ 936.8 billion) to the global economy in 2022, including taxes of US $ 390 billion.
