Hong Kong Tax Agency Publishes Stamp Duty Rates for Residential, Nonresidential Property Transactions

The Hong Kong Inland Revenue Department May 12 published the stamp duty rates for residential and nonresidential property transactions. The announcement includes information on: 1) the special stamp duty on residential property acquired on or after Nov. 20, 2010, based on the holding period; 2) the buyer’s stamp duty on residential property acquired on or after Oct. 27, 2012; 3) the 15 percent ad valorem stamp duty (AVD) rate for residential property acquisitions executed on or after Nov. 5, 2016; 4) the AVD rate under Part 2 of Scale 1 (DSD rate) for nonresidential property transactions executed between Feb. 23, ...