March 5 2021
Hong Kong to Raise Stamp Duty on Stock Transfers
On 5 March 2021, the Hong Kong government published the Revenue (Stamp Duty) Bill 2021 (the Bill) in the Gazette to give effect to the proposal to increase the rate of stamp duty on stock transfers to 0.13% (from 0.1%) as announced by the Financial Secretary in the 2021-22 Budget.
The Bill seeks to amend the Stamp Duty Ordinance to increase the rate of stamp duty payable on contract notes for the sale or purchase of Hong Kong stock and correspondingly on certain transfers of such stock with effect from 1 August 2021.
The Bill will be introduced into the Legislative Council for first reading on 17 March 2021.
The full details of the Bill are available here.