Most Read Contributor in Hong Kong, September 2016
Originally published 26 February 2010
Keywords: revised stamp duty, sale, transfer,
property, Hong Kong, new stamp duty rates
Revised Stamp Duty Rates
With reference to the Financial Secretary's 2010-11 Budget
delivered on 24 February 2010, the stamp duty rates on transactions
of properties valued over HK$20 million will be increased with
effect from 1 April 2010.
The New Stamp Duty Rates on Sale or Transfer of Immovable
Property in Hong Kong effective from 1 April 2010
are as follows:
Amount or value of the
Does not exceed
$100 + 10% of excess over
$45,000 + 10% of excess over
$90,000 + 10% of excess over
$180,000 + 10% of excess over
$750,000 + 10% of excess over
New Stamp Duty Rates Apply to All Kinds of Immovable
Please note that the new stamp duty rates will apply to
all kinds of immovable properties, namely
residential and non-residential properties.
The effective date (i.e. 1 April 2010) applies to the execution
date of the chargeable instrument, i.e. (i) agreement for sale and
purchase for residential property, and (ii) assignment for
Furthermore, a chargeable agreement of residential property
valued over HK$20 million executed on and after 1 April 2010 will
not be eligible to apply for a deferral of the payment of stamp
Some examples of how the old and new rates of stamp duty will
apply and when a chargeable agreement will not be eligible for a
deferred payment application are given in the attached link to the
FAQ in respect of the stamp duty on transactions of
property valuing over HK$20 million
Those who have recently contracted to purchase property or are
considering purchasing property should consider the dates of
execution of the Provisional Agreement, Formal Agreement and the
Assignment in order to take advantage of the old stamp duty
We also attach the following link to the Government website on
the stamp duty rates for sale or transfer or lease of immovable
property in Hong Kong or transfer of Hong Kong stock for
readers' ease of reference:
Copyright 2010. JSM, Mayer Brown International LLP
and/or Mayer Brown LLP. All rights reserved. Mayer Brown is a
global legal services organization comprising legal practices that
are separate entities ("Mayer Brown Practices"). The
Mayer Brown Practices are: JSM, a Hong Kong partnership, and its
associated entities in Asia; Mayer Brown International LLP, a
limited liability partnership incorporated in England and Wales;
and Mayer Brown LLP, a limited liability partnership established in
the United States. The Mayer Brown Practices are known as Mayer
Brown JSM in Asia.
This article provides information and comments on legal
issues and developments of interest. The foregoing is not a
comprehensive treatment of the subject matter covered and is not
intended to provide legal advice. Readers should seek specific
legal advice before taking any action with respect to the matters
discussed herein. Please also read the JSM legal publications Disclaimer.
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