2024 Policy Address: Hong Kong cuts tax on liquor priced above $200 to 10% to boost trade

The previous rate was 100%.

Hong Kong has slashed the tax rate on liquor priced more than $200.  

Under the new rule, the portion of the liquor's price that exceeds $200 will be taxed at 10%, down from the previous 100%.

Duty rates for liquor with an import price of $200 or below will remain unchanged.  

In his 2024 Policy Address, Chief Executive John Lee said the import tax reduction for liquor will help boost the development of high-value-added industries, including logistics and storage, tourism, and high-end food and beverage consumption. Additionally, cutting taxes will help promote the liquor trade. 

"The government has made reference to the successful experience of driving the wine trade through the exemption of wine duty," Lee said.