Property News · September 12, 2017

HK$350 levy proposed on every property transaction to fund new management watchdog


Tens of thousands of Hong Kong property buyers face an extra HK$350 (US$19) levy on top of existing stamp duties, for every deal signed, starting from next year.
Tony Tse, chairman of the fledgling Property Management Services Authority (PMSA), revealed the proposed new tax this week, to be used to help fund the authority’s running.
It is awaiting approval from Legco’s Finance Committee, when it reconvenes in October.
The body’s job will be to regulate the property management…

Source : South China Morning Post
Read more…HK0 levy proposed on every property transaction to fund new management watchdog

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