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Feb. 29th, 2008 09:27 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
ymarkovHong Kong to Eliminate Taxes on Beer and Wine Immediately
Booming Hong Kong cuts taxes as surplus soars
Feb 27 01:17 AM US/Eastern
Hong Kong's financial chief said Wednesday he will cut salary and corporate taxes and abolish duty on beer and wine after a booming economy pushed the city's budget surplus to a record high.
In his maiden budget speech, Financial Secretary John Tsang said he would increase spending on health services and introduce measures to bridge the widening wealth gap and reduce air pollution.
Duty on beer and wine -- currently at 40 percent -- will be cut with immediate effect.
Booming Hong Kong cuts taxes as surplus soars
Feb 27 01:17 AM US/Eastern
Hong Kong's financial chief said Wednesday he will cut salary and corporate taxes and abolish duty on beer and wine after a booming economy pushed the city's budget surplus to a record high.
In his maiden budget speech, Financial Secretary John Tsang said he would increase spending on health services and introduce measures to bridge the widening wealth gap and reduce air pollution.
Duty on beer and wine -- currently at 40 percent -- will be cut with immediate effect.
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Date: 2008-02-29 04:07 pm (UTC)