Tag: hong kong tax

Hong Kong’s New Vacancy Tax – Overview and Interpretation

6 July 2018 - CEO Joshua Miller discusses what the new vacancy tax could mean for developers and consumers. The Vacancy Tax - Structure On June 30th, the government announced its new policy imposing a vacancy tax on developers regarding unsold first-hand private residential flats, constituting a tax amounting to 2 years’ of rental value
By: Joshua Han Miller

A Guide to Hong Kong's Real Estate System and Property Tax

1. Land Holdings and Registration Systems1.1 Land holdingsAll land in Hong Kong is owned by the People’s Republic of China as State property and is managed by the Government of the Hong Kong Special Administrative Region (Government) under the Basic Law of Hong Kong.Land identified as suitable for private development is sold by the Government thro
By: Hilary Cordell

John Tsang reminds the public to beware of hot sentiment

20 July 2014 - The Financial Secretary of Hong Kong, John Tsang Chun-wah, recently expressed in his blog that he is relieved that the Double Stamp Duty was approved by Legco within the 2014 Legislative Session. Tsang mentioned that demand in the property market has eased after implemention of the Special Stamp Duty, Buyer Stamp Duty and Double Sta

Double Stamp Duty approved by Legco

16 July 2014 - The Double Stamp Duty has been approved by Legco, 17 months after being proposed. The additional stamp duties will be retroactively applied. These have been collected since February of last year and will now be transferred to the government. The measure was introduced as an attempt to cool Hong Kong's property market. For the full a

Second reading of Double Stamp Duty Proposal to be held in July

24 June 2014 - On 22 February 2013, the Financial Secretary announced the Government would amend the Stamp Duty Ordinance by adjusting the ad valorem stamp duty rated (ie. Double Stamp Duty Proposal). The proposal attracted much criticism and is still under review as a result. The Hong Kong Economic Times reported that with over a year for deliber

Cheung Kong’s City Point Development in Tsuen Wan sees 1-day sellout

28 May 2014 - The SCMP today reported that Cheung Kong sold all 591 units offered as part of its first batch of sales of the City Point Development in Tsuen Wan yesterday.  Cheung Kong said that the project, with 1,717 units in total, should launch the second batch of sales – 354 units – later this week.The first batch was announced in conjunction
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