Inland Revenue Department

The Inland Revenue Department (IRD) is a Hong Kong government agency responsible for collecting taxes and enforcing tax laws. Recently, the IRD reported a 22% increase in tax revenue to HK$458 billion, driven by a strong stock market and property transactions. Additionally, a local media outlet was cleared of tax evasion after a year-long review, but faced significant costs and described the process as an 'unfair punishment'. These developments highlight the IRD's role in shaping Hong Kong's economy and its impact on various sectors, including media and finance.