Hong Kong's Commissioner of Inland Revenue, Alice Lau revealed this week that total tax revenue soared to a record high of $145 billion in 2005-06, up 14% on the last financial year.
According to Ms Lau, income from profits tax rose 19% over a year earlier, to $69.8 billion, while that from salaries tax grew 10% to $37.5 billion. A 9% surge was recorded in revenue from property tax and personal assessment, bringing the income to $4.5 billion.
For estate and stamp duties the revenue rose 14% to $1.7 billion and 13% to $17.9 billion. The income from other taxes also surged 12% to $1.8 billion. However, revenue from betting duty dipped 1% to $11.9 billion.
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