However, Tsang said the tax cut was not about making it cheaper for anyone in Hong Kong to enjoy their “favourite tipple”.
“It’s about creating new business opportunities in the storage, transport, selling and marketing of wine at a time when consumers across Asia are enjoying higher living standards, and becoming more discerning too,” said Tsang.
The tax cut was welcomed by HKTB chairman, James Tien, who said that the proposal will
also create new opportunities for the convention and exhibition industry.
Tien said that HKTB will step up promotions to the wine related businesses to “attract relevant organisations to stage wine exhibitions or events in Hong Kong, such as the biannual
Vinexpo Asia Pacific”.
“We urge the dining and retail sectors to immediately lower the retail prices of alcoholic
beverages, which will benefit visitors and in turn encourage their consumption,” said Tien.
The Hong Kong International Wine Expo is the first new wine-related event has been added to the calendar and will take place this August.
Exhibition industry raises toast as HK gov't dumps alcohol tax
HONG KONG Financial secretary John Tsang has abolished the SAR's 40% tax on all alcohol except spirits, which should have positive results for the convention and exhibition industry.
