On July 4, the Hong Kong Special Administrative Region Government announced its intention to submit a resolution to the Legislative Council under the Hotel Accommodation Tax Ordinance, proposing the reinstatement of the hotel accommodation tax. Earlier, the SAR’s Financial Secretary proposed in the budget that starting from January 1 next year, a 3% hotel accommodation tax would be reinstated. According to information from the Hong Kong SAR Government Newsroom, the hotel accommodation tax is expected to generate approximately HK$1.1 billion ($143 million) in annual revenue for the government.