New measure raises stamp duty

It will increase the rate to 0.13% starting 1 August.

The ordinance raising the stamp duty payable on contract notes for the sale or purchase of Hong Kong stock to 0.13% will take effect on 1 August.

This is an increase from the current 0.1% rate.

The government made the announcement after it published the Revenue (Stamp Duty) Ordinance 2021 in the gazette, following the Legislative Council’s move to enact it on 2 June.

The ordinance will also raise the stamp duty rate to 0.26% on stock transfers from the current 0.2%.

The amendment was first introduced to the LegCo in March 2021. It was also amongst the measures Financial Secretary Paul Chan mentioned during his 24 February budget statement.

Read also: Stamp duty amendment bill to be introduced to LegCo

This forms part of the government’s move to raise revenue without introducing new taxes.