Hong Kong Abolishes Doubled Ad Valorem Stamp Duty on Non-Residential Property Transactions

The Hong Kong Inland Revenue Department has published a government release welcoming the passage of the Stamp Duty (Amendment) Bill 2020 on 17 March 2021, which abolishes the Doubled Ad Valorem Stamp Duty (DSD) rates applicable to non-residential property transactions with effect from 26 November 2020.

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Government welcomes passage of abolition of Doubled Ad Valorem Stamp Duty on non-residential properties

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, welcom…