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The IRD is responsible for the administration of the following Hong Kong ordinances on taxes and duties and the related rules and regulations: Betting Duty Ordinance Cap.108; Business Registration Ordinance Cap.310; Estate Duty Ordinance Cap.111; Hotel Accommodation Tax Ordinance Cap.348; Inland Revenue Ordinance Cap.112; Stamp Duty Ordinance ...
The examples are Hong Kong bearer instrument, Hong Kong stock, conveyance, contract note. Section 4 - Charging of, liability for, and recovery of stamp duty; Section 8 - Duplicates and counterparts; Section 9 - Late stamping; Section 10 - How instruments to be written, charged and stamped; Section 13 - Adjudication of stamp duty by Collector
In March 1997, the government sold 15% of the company's issued share capital to the China Banknote Printing and Minting Corporation (CBPMC). In October of the same year, the government sold 10% of the company's issued share capital to each of the three note-issuing banks in Hong Kong (total 30%), namely The Hongkong and Shanghai Banking Corporation Limited, the Standard Chartered Bank (now ...
Stamp duty laws can differ significantly between all eight jurisdictions. The rates of stamp duty also differ between the jurisdictions (typically up to 5.5%) as do the nature of instruments and transactions subject to duty. Some jurisdictions no longer require a physical document to attract what is now often referred to as "transaction duty".
The arrangements in Hong Kong are unusual but not unique, as a comparable system is used in the United Kingdom where seven commercial banks other than the Bank of England (the central bank of the UK) issue banknotes (three in Scotland and four in Northern Ireland) and Macau where two banks issue banknotes.
Hong Kong revenues are popular with collectors from Hong Kong or China. [2] On 6 October 2013 a 1903 1c stamp sold on eBay for $7887. This stamp is very rare as only two recently discovered copies are known, and it was previously thought that this was never issued. It is therefore one of the greatest rarities of British Empire revenue philately ...
Later on 6 March 1979, the Standard Chartered Bank (Hong Kong) issued its own one thousand-dollar note, with a dimension of 100mm by 170mm. Since 1985, the note issued by both banks were redesigned with a shrunk size of 81.5mm by 163mm.
As one of the top five financial centres worldwide, Hong Kong has one of the highest concentrations of banking institutions in the world, with 70 of the largest 100 banks in the world having an operation in Hong Kong. As of 2019, there were 164 licensed banks, 17 restricted licence banks and 13 deposit-taking companies in business, constituting ...