Total tax revenue collected in the 2014-15 financial year was $301.9 billion, representing a 24% rise compared to the previous year.
At a press conference today, Commissioner of Inland Revenue Wong Kuen-fai said the increase was mainly caused by an 80% rise in stamp duty, reaching $74.8 billion.
Profits tax collected rose 14% to $137.8 billion while salaries tax increased 7% to 59.3 billion.
The Inland Revenue Department today has sent out 2.48 million individual tax returns for the current financial year. Mr Wong reminded taxpayers to file their returns before the June 4 deadline.
Taxpayers who file their tax returns online can have the deadline extended to July 4.
In the Budget for this year, the Financial Secretary has proposed several tax-related measures, including to increase the child allowance and the additional child allowance in the year of birth, a 75% reduction of profits and salaries tax, and tax under personal assessment for the year of assessment 2014/15, subject to a ceiling of $20,000 per case.
The department will implement the tax measures in this year's tax bills after the relevant legislation is enacted.
Taxpayers should complete this year's tax return as usual and no application was needed for the proposed measures, Mr Wong said.
