Property News · April 13, 2017

Wily buyers work around stamp duty rule by splitting purchases under different names


Wily buyers appear to have found a workaround for the Hong Kong government’s new stamp duty rule, barely a day after the outgoing Chief Executive Leung Chun-ying announced he’s closing a five month tax loophole to help his successor to get a handle on the city’s runaway property prices.
During a Wednesday sale at Cheung Kong Property Holding’s Harbour Glory apartment project in North Point, a family bought three apartment units for a combined bill of about HK$170 million…

Source : South China Morning Post
Read more…Wily buyers work around stamp duty rule by splitting purchases under different names

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