The Hong Kong Inland Revenue Department announced on 31 January 2024 that the Legislative Council has approved the Stamp Duty (Amendment) (Residential Properties) Bill 2023, which provides for the implementation of certain measures announced as part of the 2023 Policy Address in October 2023. As previously reported, this includes:
- A reduction in the applicable period of the Special Stamp Duty (SSD) from three years to two years, meaning that if a property owner disposes of his/her property…