Hong Kong's overall tax revenue increased by 22% to HK$458.3 billion (US$58.5 billion) in the past year, driven by a strong stock market performance and increased property transactions. Stamp duty saw a significant 61% surge, contributing to the overall rise.

Hong Kong’s overall tax revenue rose 22 per cent to HK$458.3 billion (US$58.5 billion) last year, driven by a buoyant stock market and increased property transactions. Commissioner of Inland Revenue Benjamin Chan Sze-wai, on Monday announced the provisional tax figures for the year ending March 31. The increase was led by a 61 per cent surge in stamp duty to HK$102.6 billion, alongside a 20 per cent rise in profits tax to HK$212.6 billion and a 10 per cent increase in salaries tax to HK$97.7...