RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Government mulls imposing $350 levy on property recipients

If passed, the PMSA will collect start collecting from property transferees by July 1.

The government gazetted on February 23 a notice and levy regulation that will enable the Property Management Services Authority to collect a levy from the transferee of a property transaction effective July 1.

The amount of levy is fixed at $350 for each leviable instrument, according to a press release which notes the gazettal of Property Management Services Ordinance Notice 2018 and the Property Management Services (Levy) Regulation.

The PSMA is a statutory body that regulates the provision of property management services by companies and practitioners in Hong Kong. 

"The PMSA is empowered under the PMSO to collect a levy on each conveyance on sale chargeable with stamp duty from the transferee," a spokesman for the Home Affairs Bureau said.

The Commencement Notice and the Levy Regulation will be tabled at the Legislative Council for negative vetting on February 28. 

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