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  • November 28, 2014
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  1. Beijing scraps stamp duty to revive markets

    Posted Sep 19th 2008, 12:00am by Staff Reporter

    ... per cent stamp duty from today, the Ministry of Finance said after trading ended yesterday. Li Rongrong, chairman of the State-owned Assets Supervision and Administration Commission (Sasac), ... rally won't be enough to shake off the bearish sentiment.' Beijing reduced the stamp duty from 0.3 per cent to 0.1 per cent in April, displaying its determination to arrest a market ...

  2. Stamp duty rise tips markets into downturn

    Posted May 31st 2007, 12:00am by Staff Reporter

    ... the stamp duty paid on share trades- its most decisive action yet to cool months of frenzied speculation that has sent the bourses to record highs. At one point the benchmark Shanghai Composite ... the stamp duty hike. The Shanghai index will seek bottom at around 3,000 in June,' said Wang Sheng, a strategist at Haitong Securities, based in Shanghai. 'A meaningful correction ...

  3. 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 ...

  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. Estate duty may cease

    Posted Oct 08th 2005, 12:00am by Staff Reporter

    ... of about $1.5billion, the additional revenue from stamp duty and other taxes should compensate for the tax gap. ... and regionally is a plan to abolish estate duty. With the majority of interested parties consulted supporting the abolition, if the bill is passed, the government hopes it will draw a significant portion ...

  6. Market intervention should be last resort

    Posted Sep 20th 2008, 12:00am by Staff Reporter

    ... remain healthy, at least for now. Even so, Beijing has announced that stamp duty on share purchases will be scrapped, state-controlled enterprises encouraged to buy back shares and a government ... the economic gloom elsewhere. The stock markets, however, are unlikely to lift off any time soon. In April, Beijing reduced stamp duty to arrest a market decline. It achieved a short rally, only ...

  7. In Brief

    Posted Mar 31st 2005, 12:00am by Staff Reporter

    ... increase the government's revenue from stamp duty, due to the expected flow of funds into the local stock market. ... but said it would develop step by step. Abolition of duty set to boost foreign investment Secretary for Financial Services and the Treasury Frederick Ma Si-hang said the government would make ...

  8. Mainland housing market still bearish: analysts

    Posted Nov 05th 2008, 12:00am by Staff Reporter

    ... rate, which has been reduced to 2 per cent from 4 per cent. Beijing and local governments have cut taxes, waived the stamp duty and lowered mortgage rates and down payments for first-time buyers ...

  9. Beijing censors financial websites

    Posted Sep 10th 2008, 12:00am by Staff Reporter

    ... Analysts predict it will tumble to the 2,000-point level amid a crisis of confidence. Authorities have struggled to arrest the sharp decline in equities, with the Ministry of Finance slashing stamp duty by two-thirds in late April, only to see the short-lived, government-orchestrated rally lead to an even sharper downturn. In July, the China Securities Regulatory Commission required fund ...

  10. Budget 2005

    Posted Mar 17th 2005, 12:00am by Staff Reporter

    ... revenue from stamp duty and other taxes.' TOURISM 'Over the next two years... the Hong Kong Tourism Board will launch a series of strategic global publicity and promotion programmes. ... ESTATE DUTY 'It is impossible for us to give an accurate estimate of the amount of foreign and domestic investment that will be induced if estate duty is abolished. Nonetheless, we ...




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