CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Hong Kong Gazettes Stamp Duty Changes

Hong Kong Gazettes Stamp Duty Changes

by Mary Swire, Tax-News.com, Hong Kong

31 December 2012


Hong Kong has gazetted legislation that will impose Buyer's Stamp Duty on residential properties acquired by non-Hong Kong permanent residents.

The Stamp Duty (Amendment) Bill 2012 will be tabled at the Legislative Council on January 9, 2013. Its provisions will be applicable to all residential properties acquired on or after October 27, 2012.

Under the reforms, the Buyer's Stamp Duty will be charged at a flat rate of 15% for all residential properties. It will be levied on top of the existing stamp duty and the Special Stamp Duty, where applicable, on any such property acquired by any person or entity, except a Hong Kong permanent resident.

The legislation also extends the Special Stamp Duty's coverage period and adjusts its rates. The duty will have three levels of regressive rates for different holding periods. It will apply at 20% of the amount or value of the consideration if the residential property has been held for six months or less; 15% for properties held for between six and 12 months; and at 10% for those held for more than 12 but less than 36 months.

TAGS: individuals | tax | investment | real-estate investment | property tax | real-estate | international financial centres (IFC) | offshore | legislation | stamp duty | Hong Kong

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »