Hong Kong has no local taxes nor any sales tax or value added taxes. Government Revenue is substantially land based.
Land sales form a substantial proportion of government revenue.
Stamp duties are also significant. Horse racing betting levy collected by the Hong Kong Jockey Club monopoly, is also substantial. While Hong Kong is largely duty free, excise duties are levied on alcohol, tobacco and motor fuels. The principal area of interest is therefore profits tax. The Hong Kong taxation system has territoriality as the basis.