Increasing the rate of ad valorem stamp duty chargeable on transactions of Hong Kong stock
In the Budget 2021/22, the Financial Secretary proposed to increase the rate of ad valorem stamp duty for transaction of Hong Kong stock that is prescribed under head 2 of the First Schedule to the Stamp Duty Ordinance (Cap. 117). The increased rate is as follows:
|Nature of Document||Stamp Duty|
|Contract Note for sale or purchase of Hong Kong stock||0.13% of the amount of the consideration or of its value on every sold note or bought note|
|Transfer operating as a voluntary disposition inter vivos of Hong Kong stock||$5 + 0.26% of the value of the stock|
Subject to the completion of the legislative process, the above measure will take effect from the date specified in the amendment ordinance.