The Hong Kong Inland Revenue Department announced on 20 April 2018 that the Stamp Duty (Amendment) (No. 2) Ordinance 2018 has been published in the Official Gazette. The Ordinance provides for a restriction to the exemption from the new 15% stamp duty for buyers that do not own any other residential property in order to prevent investors from inappropriately obtaining the exemption by acquiring multiple properties under a single instrument.
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The Stamp Duty (Amendment) (No. 2) Ordinance…