The vast majority of traders and retailers in Hong Kong are opposed to any form of sales tax being levied in the territory, according to a recent survey.
Reporting the findings of a survey of 651 retailers last month, a lobby group established to fight the possible introduction of sales tax in Hong Kong, known as the Coalition Against Sales Tax (which includes 36 associations and ten retail industries) has reported that 90% of firms are opposed to the tax.
Around two-thirds of the respondents also expressed concern over the cost of administering the tax, while 80% concluded that it would curb consumption, strangle the city’s economic recovery and “tarnish Hong Kong’s reputation as a shopping paradise”.
In his budget speech delivered in March, Financial Secretary Henry Tang revealed that the government has yet to make any firm decision on whether to introduce the goods and services tax, and any proposals are to be put to a public consultation later in the year.
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