The Financial Secretary (FS) announced the 2021/22 Hong Kong Budget (Budget) on 24 February 2021. This Alert summarizes the key features of the Budget.
Detailed discussion
Increasing the stamp duty rate on stock transfers
The FS has proposed an increase in the stamp duty rate on stock transfer transactions from 0.1% to 0.13%, payable by both buyers and sellers (i.e., a total stamp duty rate of 0.26%). Based on the Revenue (Stamp Duty) Bill gazetted on 5 March 2021, the change will come into effect …