Hong Kong gov’t collects record high tax revenue of HK$458 billion, boosted by stamp duty

The Inland Revenue Department (IRD) has announced that tax revenue jumped by 22 per cent in the 2025-26 fiscal year, hitting a record high of HK$458.3 billion.

Commissioner of Inland Revenue Benjamin Chan (centre), Deputy Commissioners Leung Kin-wa (left) and Chan Shun-mei attend a press conference on May 4, 2026. Photo: GovHK

Unveiling the provisional tax figures at a press conference on Monday, Benjamin Chan, commissioner of Inland Revenue, attributed the rise partly to rallies in the property and stock markets.

Revenue from stamp duty – a tax imposed on the transfer of property or assets – reached HK$102.6 billion in 2025-26, a 61 per cent rise from the previous period.

Chan said the IRD also noticed a rise in the income of Hong Kong taxpayers and a higher number of companies paying profits tax.

In 2025-26, the tax office collected HK$212.6 billion in profits tax – a 20 per cent increase from 2024-25 – and HK$97.7 billion in salaries tax – a 10 per cent rise.

“The department’s revenue collection in 2025-26 was HK$458.3 billion, which is a record high,” Chan said.

Hong Kong’s Inland Revenue Department. File photo: Kyle Lam/HKFP.

The government previously logged HK$341.4 billion in tax revenue in 2018-19, a record high at the time, according to an IRD annual report.

The tax revenue declined afterwards – until the 2024-25 fiscal year, which recorded HK$374.5 billion, a 9.5 per cent increase from the previous period.

2.77 million tax returns issued

Chan also said on Monday that the IRD had issued about 2.77 million tax returns for individuals for the 2025-26, an increase of 115,000 from the previous year.

The commissioner also encouraged taxpayers to file their tax returns through eTAX, which is more environmentally friendly and helps ensure they reach the IRD in time. 

An extension of one month will be granted for returns filed electronically, according to the IRD.