By South China Morning Post | Created at 2024-10-17 12:58:50 | Updated at 2024-10-17 15:26:22
2 hours ago
Hong Kong has slashed the liquor tax on spirits with over 30 per cent alcohol content and an import price above HK$200 (US$26) after Chief Executive John Lee Ka-chiu unveiled the move in his latest policy address.
The cut aims to boost the high-end spirits market, with hopes that it will also benefit the tourism and restaurant sectors.
But not everyone is raising a glass to the news, with doctors and former health officials expressing concerns about it leading to increased alcohol consumption.
The Post examines the potential impact of the move and why opinions are so divided.
1. What is the latest policy?
The tax rate was previously 100 per cent on liquor with more than 30 per cent alcohol content, regardless of the price.
