Duty on spirits has been reduced to help promote the liquor trade, Chief Executive John Lee announced in his Policy Address on Wednesday.

"The government has made reference to the successful experience of driving the wine trade through exemption of wine duty and will, starting today, reduce the duty rate for liquor with an import price of over HK$200 from 100 percent to 10 percent for the portion above HK$200," Lee said.

The move applies to liquor with an alcoholic strength of more than 30 percent, and the duty on spirits with an import price of HK$200 or below remains unchanged.

In recent months, industry representatives had called for a reduction in the duty.

Lee said the cut will boost the development of high value added industries including tourism and logistics and storage, as well as high-end food and beverage consumption.

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16 Oct 2024