Stamp Duty is a duty imposed on specified instruments/documents. The most common example is buying a property in Hong Kong. There are various implications in terms of the nature of property (residential property vs. non-residential property), type of buyer (whether he is a Hong Kong permanent resident), the length of holding the property before selling it out (e.g. less than 12 months?).
In addition, a Hong Kong stock is subject to stamp duty too. However, there is a group relief arrangement for the stamp duty, where certain conditions have to be fulfilled for applying the relief.
We provide advice to our clients on how to better manage the stamp duty obligation.
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Salaries Tax Reporting by Employers and Employees – Any Errors Made?6 March 2020
Introduction Watch out! Are you receiving certain fringe benefits, such as housing benefits, share option benefits and share award benefits from your employer? Did you and your employer both report the fringe benefits to the Hong Kong Inland Revenue Department (“HK-IRD”) correctly in order to avoid any over-charge of your own Hong Kong salaries tax… read more
The Fifth Protocol to the Double Taxation Arrangement between Mainland China and Hong Kong5 March 2020
Introduction Mainland China and Hong Kong have entered into their Fifth Protocol (“Fifth Protocol”) to their Comprehensive Avoidance of Double Taxation Arrangement (“CN/HK-DTA”), which has officially come into operation in Mainland China since 1 January 2020 and will apply in Hong Kong as from 1 April 2020. The major contents of the Fifth Protocol are… read more
Hong Kong 2020-21 Budget2 March 2020
Introduction On 26 February 2020, the Financial Secretary of Hong Kong announced the Budget for the fiscal year 2020-21. The forecast is that for the fiscal year 2019-20, there will be a deficit of around HKD 37.8 billion, and that the fiscal reserves are expected to become HKD 1,133.1 billion by 31 March 2020. The… read more