Financial Secretary announces new measures to cool overheated

Financial Secretary announces new measures to coo...

Tax alert - Issue 16, October 2012  On 26 October 2012, Hong Kong’s Financial Secretary launched a further round of measures aimed at stabilising the residential property market. The rate of Special Stamp Duty (SSD) is to be increased and the restriction period extended. A Buyer’s Stamp Duty (BSD) payable by buyers of Hong Kong residential property is also to be introduced. The BSD is not payable by Hong Kong Permanent Residents.