Companies / Hong Kong
Removal Of Duties Reignites Regional Wine Hub Ambitions
February 2008 | Industry NewsHong Kong's March 2007 'feel good' budget, which included halving 80% duty rates on wine and 40% duties on beers and spirits under 30% ABV, did not have a profound effect on the stagnant alcoholic drinks market, with alcohol remaining expensive for the average consumer. However, Hong Kong Financial Secretary John Tsang's first budget announcement has seen duties on wine and beer abolished all together in what could represent a very significant event for the country's alcoholic drinks industry.
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