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Hong Kong stamp duty

To rein in the city's runaway housing prices, Hong Kong's Financial Secretary John Tsang Chun-wah announced an additional 15 per cent stamp duty on non-permanent-resident and corporate buyers starting from October 27, 2012. The move prompted speculation over the effectiveness of taxation on the real estate market and criticisms that Hong Kong was turning away from its roots as a free market economy in favour of a more protectionist market environment.

 

Brokers see a trading opportunity in Tsang's promise to cut taxes

Chief Executive Donald Tsang Yam-kuen says that if he wins a second term, he will cut taxes.

While our leader has mentioned only salaries tax so far, stockbrokers can't help but hope that Mr Tsang will do something about the stamp duty on securities transactions, too.