Hong Kong tax revenue jumps 22% to HK$458 billion
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Hong Kong's tax revenue surged 22% to HK$458.3 billion (US$58.5 billion) for the year ending March 31, driven by a strong stock market and increased property transactions. Key contributors included a 61% rise in stamp duty to HK$102.6 billion, a 20% increase in profits tax to HK$212.6 billion, and a 10% rise in salaries tax to HK$97.7 billion. The growth was supported by a robust pipeline of initial public offerings, with 37 companies raising US$13.26 billion in Q1, marking a 453% year-on-year increase.
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