Thursday, July 24, 2014   

Tax revenue hits HK$243.5b in 2013-14
(05-02 18:46)

Hong Kong received HK$243.5 billion in tax revenue in 2013-14, setting another record high after the 2012-13 collection year, according to Inland Revenue Department.
Commissioner of Inland Revenue Wong Kuen-fai tiday said the duty collected represents an increase of HK$1.4 billion, or 1 percent, from that in 2012-13.
Revenue from salaries tax grew 10 percent to HK$55.6 billion.
Revenue from profits tax fell 4 percent to HK$120.9 billion, while that from stamp duty dropped 3 percent to HK$41.5 billion.
Wong expects a total revenue of about HK$242.7 billion 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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