Hong Kong reduces stamp duty on securities transactions

On November 15, 2023, the Legislative Council of the Hong Kong Special Administrative Region approved the Stamp Duty (Amendment) (Stock Transfers) Bill 2023 to lower stamp duty rates in Hong Kong. The changes came into effect and apply from November 17, 2023.

Stamp duty rates in Hong Kong are defined by the Stamp Duty Ordinance (Cap. 117). Currently, the stamp duty rate for the transfer of rights to securities is 0.13% of the consideration or value of the shares. Stamp duty is paid jointly by the buyer and the seller.

According to the amendments, the stamp duty rate for both the buyer and the seller has been reduced from 0.13% to 0.1%. Additionally, the stamp duty rate applicable to voluntary disposition in the absence of an agreement has been reduced from 0.26% to 0.2%.

The changes came into effect and apply to all transactions involving Hong Kong securities conducted from November 17, 2023.

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