Commentators agree scrapping stock stamp duty could well help turnover, benefitting the stock exchange, as stock brokerage firms are likely to end up paying more in profit tax as a result. Photo: AP Commentators agree scrapping stock stamp duty could well help turnover, benefitting the stock exchange, as stock brokerage firms are likely to end up paying more in profit tax as a result. Photo: AP
Commentators agree scrapping stock stamp duty could well help turnover, benefitting the stock exchange, as stock brokerage firms are likely to end up paying more in profit tax as a result. Photo: AP
Enoch Yiu
Opinion

Opinion

White Collar by Enoch Yiu

Carrie Lam should endorse scrapping of stock market stamp duty: here’s why

Stock stamp duty has never been considered stable government income, but it is the most expensive element in any transaction cost

Commentators agree scrapping stock stamp duty could well help turnover, benefitting the stock exchange, as stock brokerage firms are likely to end up paying more in profit tax as a result. Photo: AP Commentators agree scrapping stock stamp duty could well help turnover, benefitting the stock exchange, as stock brokerage firms are likely to end up paying more in profit tax as a result. Photo: AP
Commentators agree scrapping stock stamp duty could well help turnover, benefitting the stock exchange, as stock brokerage firms are likely to end up paying more in profit tax as a result. Photo: AP
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Enoch Yiu

Enoch Yiu

Enoch joined the Post as a business reporter in 1996. Before that, she worked at a Chinese daily newspaper for four years. She is the author of two books: 'They Mean Business: 50 exclusive interviews with Hong Kong top executives' and 'Serving with Passion: stories of established catering brands in Hong Kong'.