• Service: Tax, Global Indirect Tax, Global Mobility Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 4/11/2014

Hong Kong - Stamp duty exemption claims due 30 April 

April 11:  The Inland Revenue Department published guidelines as to how persons may claim an exemption from the buyer’s stamp duty (tax) with respect to agreements for sale and conveyance on sale of residential properties executed on or after 27 October 2012.

A law enacted in 2014 (but retroactively effective from 27 October 2012) imposes a stamp tax with respect to certain purchases of residential property in Hong Kong.

An exemption from the buyer’s stamp duty is available for Hong Kong permanent residents acquiring the property on their own behalf (as both the legal and beneficial owners). To claim the exemption, certain information must be submitted on or before 30 April 2014.

Read an April 2014 report prepared by the KPMG member firm in Hong Kong: Arrangements for stamping and claiming exemption from Buyer’s Stamp Duty (BSD)

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