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Learn moreCourt of Appeal decision
The Court of Appeal (COA) on July 5, 2024, overturned a lower court’s decision and held that stamp duty relief for intra-group share transfers under section 45 of the Stamp Duty Ordinance (SDO) (s.45 relief) is only available to associated companies satisfying the 90% association requirement via issued share capital.
Because the transferor in the intra-group share transfer was a UK limited liability partnership without share capital, the court found that s.45 relief was not available to the transfer.
The case is: John Wiley & Sons UK2 LLP and Another v The Collector of Stamp Revenue.
For more information contact a KPMG tax professional:
David Ling | davidxling@kpmg.com
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