Tuesday, May 6, 2014

BP Holding Tax Management: Hong Kong receive 243.5 bln HK dollars in tax revenue in 2013-14

HONG KONG, May 2 (Xinhua) -- Hong Kong received 243.5 billion HK dollars in tax revenue in 2013-14, setting another record high after the 2012-13 collection year, according to Inland Revenue Department of the city government.

Announcing the figure at a press conference on Friday, Commissioner of Inland Revenue Wong Kuen fai said the duty collected represents an increase of 1.4 billion HK dollars, or 1 percent, on 2012-13.

Revenue from salaries tax grew 10 percent to 55.6 billion HK dollars.

Revenue from profits tax fell 4 percent to 120.9 billion HK dollars, while that from stamp duty dropped 3 percent to 41.5 billion HK dollars.

Wong forecast a total revenue of about 242.7 billion HK dollars in the year ahead.

He said the department is sending out 2.37 million tax returns for this year, and reminded taxpayers to return them by June 3.

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