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Hong Kong Records $6.6 Billion Surplus

by Mary Swire, Tax-News.com, Hong Kong

04 June 2007


According to figures published by the Hong Kong Financial Services & Treasury Bureau (FSTB) last Thursday, government spending for the first month of the current financial year amounted to $17.6 billion, with revenue at $24.2 billion, resulting in a $6.6 billion surplus.

The FSTB explained last week that the surplus was mainly due to salaries tax and land premiums receipts.

For the land premium, a total of $7.3 billion was received in April, mainly from sales by public auction.

Fiscal reserves stood at $375.8 billion as at April 30, the Bureau concluded.


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