In this article
HK authorities seize 8500 mobile phones worth HK$8m after high-speed boat chase
South China Morning Post, 20-Dec-2017
Go figure: HK doesn't charge VAT or import/export duties, so HK public money is spent protecting mainland government revenues and suppressing demand for the goods in HK, hence reducing HK taxable profits. HK is a freeport under Basic Law Article 114 and should start behaving like one.