Currency & Tax
The basic unit of currency is the Hong Kong dollar which is pegged at about HKD7.80 to USD1.00, and consequent rates of exchange to other currencies. The Hong Kong dollar is divided into 100 cents and notes in denominations of $10, $20, $50, $100, $500 and $1,000 are issued by HSBC, the Bank of China and the Standard Chartered Bank. The government also issues $10 notes. The colors of $10, $20 and $50 notes have changed in recent years, but all remain legal tender. Please be aware that there are different designs for notes of the same denomination.
Hong Kong does not impose goods and services tax (GST) or value-added tax (VAT). Only certain specific items, such as liquor and tobacco, are subject to tax.
