By Jim BoyceÂ
As mentioned yesterday, Hong Kong has abolished its wines taxes in an effort to make the place even more important as a wine trading hub. China Briefing blog reports that the savings will be substantial:
As the duty on alcohol is paid on the wholesale cost of wine, Jeanette Paterson, general manager at Watson’s Wine Asia, Hong Kong’s largest wine supplier, said consumers would actually pay around 22 percent less in shops and bars.
Retailers in Hong Kong are already reacting, as the poster below shows (thanks to Campbell Thompson for passing it on). He received in in an e-mail with the title: “We Share Tax Reduction to All Wine Lovers”
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