Hong Kong Abolishes Wine Tax: Prepares To be Asia's Wine Hub - Nazir Keshvani

Singapore's ambition to be Asia's wine hub could be hampered by Hong Kong's abolition of the wine tax, which may send distributors flocking there instead of Singapore for their base. Read more...

Singapore's ambition to be the wine distribution nexus of Asia took a knock with a recent turn of events. For some time now, the republic has fancied itself as Asia's wine hub, given its highly competitive tax regime that taxed alcohol on volume rather than value.

This put it ahead of rival Hong Kong, which could not compete due to its onerous liquor taxes. As reported in our March issue, the Singapore government recently announced Hong Kong Abolishes Wine Tax: various tweaks to alcohol duties in an evolutionary move to keep its tax regime competitive. While it didn't make everyone happy, there was no outcry.