Duty Cut Set to Boost Hong Kong’s Regional Spirits Hub Prospects
Oct 2024
Among other key objectives, the Chief Executive’s 2024 Policy Address, set out moves to promote the liquor trade and boost the development of the high value-added industries (including logistics and storage, tourism and high-end food / beverage consumption). To this end, following the success of similar moves regarding the wine industry, the Government has decreed that, as of 16 October 2024, the duty rate for liquor with an import price of more than $200 will be reduced from 100% to 10% for the portion above $200, while the duty rate for the portion of $200 (and below), as well as liquor with an import price of $200 or below, will remain unchanged.