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  • November 27, 2014
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  1. Former URA director jailed 15 months for fraud and bribery

    Posted Feb 04th 2009, 12:00am by Staff Reporter

    ... Loretta Fong A former executive director of the Urban Renewal Authority, Russel Hui, and his business partner were jailed yesterday for failing to pay almost HK$500,000 in stamp duty ... for nine flats. Hui's business partner, Mok-king-yu, 50, was jailed for 12 months on a joint conspiracy charge. Sentencing the pair, Deputy Judge David Dufton said the Stamp Duty Ordinance ...

  2. Surplus nears HK$18 billion

    Posted Jan 01st 2010, 12:00am by Martin Wong

    ... Martin Wong The government has recorded a surplus of HK$17.9 billion for the first eight months of the financial year, thanks in large part to profits tax and stamp duty. A spokesman said expenditure for the period to November 30 amounted to HK$182.2 billion and revenue was HK$143.3 billion. Revised estimates for the current financial year will be published along with the 2010-11 ...

  3. Beijing expects 74pc fall in share-sale tax take

    Posted Mar 16th 2009, 12:00am by Martin Zhou

    ... Martin Zhou in Beijing Beijing forecast a 74 per cent yearly plunge in the stamp duty collected on share sales this year, reflecting continuing government wariness about the market outlook ... predicted the stock market would generate no more than 24.5 billion yuan (HK$27.82 billion) in stamp duty this year, down 70.4 billion yuan from last year. The calculation took into consideration ...

  4. Former URA chief guilty of fraud

    Posted Jan 16th 2009, 12:00am by Staff Reporter

    ... Loretta Fong A former executive director of the Urban Renewal Authority and his business partner were convicted yesterday of failing to pay almost HK$500,000 in stamp duty on flats ... purchase agreements while the defendants concealed the originals, by which they evaded payment of HK$496,600 in stamp duty, the court was told. The premiums the new buyers paid were excluded from ...

  5. Tax on share sales may be further reduced

    Posted Mar 06th 2009, 12:00am by Eric Ng

    ... Daniel Ren in Shanghai and Eric Ng in Beijing The mainland's top securities regulator says Beijing could further cut the stamp duty on share sales, the latest sign the government ... by parliamentary spokesman Li Zhaoxing on Wednesday that Beijing would further cut stock trading tax. It is the Ministry of Finance, not the CSRC, that has the power to decide stamp duty. Beijing reduced ...

  6. Tsang warns against budget surplus hopes

    Posted Dec 22nd 2009, 12:00am by Dennis Eng

    ... there was a potential upside in the revenue from profits and salaries tax as well as the stamp duty on stock and property transactions. The firm expects a budget surplus of HK$5.6 billion. Tax revenue is now from income earned in 2008, which was not that poor a year, Lui said. Stamp duties on stock and property transactions should reach HK$40 billion, up from the official estimate of HK$25 billion, ...

  7. 5pc of taxes go uncollected as more default on payment

    Posted May 05th 2009, 12:00am by Dennis Eng

    ... especially on stamp duties. In 2008/09, stamp duties, which are mainly levied on stock and property market transactions, fell to about HK$32.16 billion- 38 per cent down from the HK$51.55 billion recorded a year earlier. Taxes on rental income also dropped one third to HK$833 million from HK$1.24 billion a year ago. Betting duty declined marginally by 3 per cent to HK$12.62 billion. ...

  8. Vox Pop

    Posted Jan 31st 2009, 12:00am by Wong Yat-Hei

    ... major incomes are stamp duty, salary tax and profit tax. With the property market and stock market plunging, the stamp duty will certainly shrink. And, with people getting laid off or receiving ...

  9. DAB springs a budget surprise

    Posted Dec 09th 2009, 12:00am by Ambrose Leung

    ... consultation slot. Among its budget proposals, the DAB is calling for a monthly HK$1,000 subsidy for 130,000 disabled people, at a total cost of HK$1.56 billion. It also proposes that the stamp duty ...

  10. Taking stock

    Posted Nov 24th 2009, 12:00am by Kevin Rafferty

    ... the markets appear to be getting out of hand, the government takes certain measures to prevent a stock market bubble from forming, such as increasing the stamp duty or restricting capital going ...




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