Is booze really that expensive in HK?

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  1. #41

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    Smile Reduction in Alcohol duty

    I have just read that the government will reduce the duty rates on wine, beer and other types of liquor by half (40% to 20%)to help promote tourism. (07,08 budget).

    Lets hope the bars/restaurants pass it on... carry your copy of the budget every Friday night from now on...


  2. #42

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    life still goes on ... irregardless of the % of taxes


  3. #43

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    Quote Originally Posted by Meerkat:
    I have just read that the government will reduce the duty rates on wine, beer and other types of liquor by half (40% to 20%)to help promote tourism. (07,08 budget).

    Lets hope the bars/restaurants pass it on... carry your copy of the budget every Friday night from now on...
    They said that tax cut was effective now. Can they really move that fast? Something lke this would take years back home--first Congress would debate the budget item forever, the they would provide a phase-in perod, etc....

  4. #44

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    I'm just afraid that excuses would come in from retailers and in the end they are the ones that earn more rather than us saving


  5. #45

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    >> Can they really move that fast?

    Might take a few weeks. But I doubt that the savings will be passed on in the form of drinks bring priced 20-30% lower in LKF.


  6. #46

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    By my calcs prices should drop by 15% immediately
    but as they say dont hold your breath
    Of course when there is a price hike prices are raised while the budget is still being read.


    LKF has a duty to be a cut above

    It didn't take long for the Lan Kwai Fong Group to begin celebrating the announcement of the 50 per cent cut in wine and beer duties.
    Yesterday's budget was delivered at 11am, and before 6pm, LKF Group had already sent out a note announcing it was cutting beer prices by 6 to 7 per cent and wine by 10 to 15 per cent from tomorrow. To encourage everyone to toast a few more rounds, its happy hour will be extended through the night on Saturday, too.
    In contrast, its competitors are taking a wait-and-see approach.
    Igor Group marketing director Linda Kwan suggested: "We'll probably have to do something fairly similar and respond to it fairly quickly."
    Meanwhile, Cafe Deco said it might reduce its prices, but it was too soon to comment.
    NinetySevenGroup operating director Grant Baird is almost sceptical, noting the law hasn't passed Legco and any reduction would depend on suppliers adjusting their prices. Instead, he hinted that cuts might benefit shops more than wine bars, as our duty will be lower than that on the mainland.
    "I think mainland visitors will be happy to pick up wines here."
    Clearly, Mr Baird sees his glass as half empty rather than half full.



  7. #47

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    I hope they can appreciate wine and not add soft frizzy drinks into the red or white wine.....


  8. #48

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    Quote Originally Posted by KnowItAll:
    >> Can they really move that fast?

    Might take a few weeks. But I doubt that the savings will be passed on in the form of drinks bring priced 20-30% lower in LKF.
    I am looking to fill my wine 'fridge. I can wait a week or two or three if it means prices are going to drop. (Helps that I will be in China for 1/2 of March.)

  9. #49

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    interesting insight in today's post

    .....But the manager of another bar nearby calculated that the savings on duty would account for only HK$1 of the wholesale price of an imported bottle of beer.

    He doubted that his suppliers would pass that saving on to the bar.

    "Once you add on rent and staff and overheads, the duty price really doesn't make a great difference to what's charged for a beer in a bar," said the manager, who did not want to be named.


    According to this bozo half the duty is $1, so the nett price of an imported bottle of beer minus duty is $3. which he then sells for $40 because of the darn rents and wages.

    I have already asked the paper to name and shame the employers of this 'manager'



  10. #50

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    Which bit of his calculation do you dispute? I'd be very surprised if the wholesale price of a bottle of generic beer (locally produced Heineken, Carlsburg, etc.) before duty is added is much more than HK$3.


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