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Wed, 28 Apr 2021 23:31   Gigi Choy

Hong Kong government’s land revenue fell to HK$88.7 billion in 2019-20, lowest level in five years

The Hong Kong government collected just HK$88.7 billion (US$11.4 billion) last year in land premium revenue, the least it has received in five years, new figures show.The revenue – which mostly comes from the sale of government land, modifications to existing leases and other fees – accounted for only 16.3 per cent of total inflows into government coffers in the 2020-21 financial year. It was still the second largest source of government income, however, behind profits tax, which accounted for…

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