Property News · November 24, 2020

Hong Kong to abolish stamp duty on commercial property in move designed to boost small firms’ cash flows


The Hong Kong government is expected to abolish the stamp duty for commercial property in a move seen as helping small and medium companies shore up their cash flows amid the city’s worst economic crisis on record.According to sources familiar with the matter, the move could be announced soon. The stamp duty for residential property, however, would remain in place, they added.Introduced to tackle speculative practices in February 2013, the stamp duty – officially known as Ad Valorem Duty for…

Source : South China Morning Post
Read more…Hong Kong to abolish stamp duty on commercial property in move designed to boost small firms’ cash flows

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