Hong Kong's tax revenue increased 22% to HK$458.3 billion (US$58.5 billion) in the financial year ending March 31, 2026, the city’s commissioner of inland revenue announced on May 4 [1].
Stamp duty largely fueled the rise, climbing 61% to HK$102.6 billion due to heightened trading activity and an increase in property transactions, according to Benjamin Chan Sze-wai. He said, "The volume of property transactions has increased, while prices have remained relatively stable. But the largest increase relates to the stamp duty on stock transactions" [1]. Chan described stamp duty growth as "a major factor contributing to the growth in our tax revenue" [1].
Profits tax rose by 20% to HK$212.6 billion, benefiting from strong corporate earnings amid increased stock market turnover and a robust pipeline of initial public offerings (IPOs) [1]. Salaries tax also saw a 10% rise, reaching HK$97.7 billion in the fiscal year spanning April 1, 2025, to March 31, 2026 [1].
The surge in revenue reflects broad economic activity, especially in capital markets and real estate deals. Despite more transactions, property prices stayed relatively stable, supporting higher stamp duty collection without a price-driven spike [1].
Commissioner Chan released the provisional tax figures on May 4, marking the latest official data on the city’s public finances for the year [1].
