The government’s tax income rose by a record 24 percent last year to a new high of HK$301.9 billion, the Inland Revenue Department said in its annual report.

Photo: HKFP.

Stamp duty collections saw the biggest increase in 2014, surging 80 percent from HK$41.5 billion to HK$74.8 billion.

Profits tax collections rose 14 percent to HK$137.8 billion, while salaries tax intake grew by 6.7 percent to HK$59.3 billion.

Meanwhile, tax refunds dropped 2.1 percent from HK$12.02 billion to HK$11.78 billion.

The report also said tax revenue made up 75.9 percent of the government’s general revenue last year.

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Vivienne Zeng

Vivienne Zeng is a journalist from China with three years' experience covering Hong Kong and mainland affairs. She has an MA in journalism from the University of Hong Kong. Her work has been featured on outlets such as Al Jazeera+ and MSNBC.