Hong Kong Abolishes Wine Tax
Author: Nicholas Pegna
At last, what all wine lovers in Hong Kong have been waiting for! We wholeheartedly welcome the Financial Secretary’s recommendation to remove wine tax.
With continuing growth in fine wine sales in China, Hong Kong is uniquely positioned to capture a growing share of the international market and people will now choose to store and exchange fine wine here.
Hong Kong now has a golden opportunity to serve as Asia’s undisputed wine hub, which can only contribute business and tourism dollars to the SAR. For consumers, the first step is ensuring that customers benefit as soon as possible. We’re implementing price reductions of 22% this week that reflect the wine tax removal and our commitment to the marketplace and our customers.
I would love to hear your thoughts on this and will be posting further information this week, so don’t forget to log back on to the blog for more details.