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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.

 

A memorial to the victims of the shooting. Photo: Reuters

Letters to the Editor, December 18, 2012

Your Monday Face interviewee Lui Che-woo projects the usual hackneyed tycoon opinion that Hong Kong must remain "business as usual" and nothing must get in the way of property company profits ("Capitalising on opportunity" December 10).