In the recent Chief Executive’s Policy Address, the government disclosed a strategic initiative to reduce the duty levied on liquors boasting an alcohol content surpassing 30%. This reduction will be actualized through the introduction of a two-tier system, featuring distinct duty rates, set to become effective from October 16, 2024.

In July 2021, Hong Kong adopted the OECD's international tax reform framework under the BEPS 2.0 initiative, which addresses cross-border tax evasion, especially in the digital economy. This framework introduces a global minimum tax for multinational enterprises (MNEs) to ensure a fairer taxation system. The Hong Kong Government announced in its 2024-25 Budget that it would implement this global minimum tax along with a Hong Kong Minimum Top-Up Tax (HKMTT), effective from 2025, to comply with OECD standards and tackle base erosion and profit shifting risks.