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Initially it administered only one piece of legislation, the Inland Revenue Ordinance, which was enacted on 3 May 1947. [ 2 ] The department subsequently absorbed various elements of the Treasury , including the Estate Duty Office (in 1949), the Stamp Duty Office (1956), and responsibility for collection of entertainments, bets and sweeps, and ...
Section 2 - Interpretation: This section introduce the terms always appear in this 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
Income tax rate in Hong Kong is 2% when net taxable income is from 1 to 50,000 Hong Kong dollars, 6% when net taxable income is between 50,001 and 100,000 Hong Kong dollars, 10% when net taxable income is between 100,001 and 150,000 Hong Kong dollars and 14% when net taxable income is between 150,001 and 200,000 Hong Kong dollars.
Historic Hong Kong stamp duty revenue stamp and overembossing die (1905). Actual stamps are no longer used. According to Schedule 1 of Hong Kong Stamp Duty Ordinance Cap.117 (SDO), Stamp duty applies to some legal binding documents as classified into 4 heads: Head 1: All sale or lease transactions in Hong Kong immovable property.
Stamp Duty Land Tax (SDLT) is a progressive tax which applies when purchasing "a residential property or a piece of land in England or Northern Ireland". [67] As of 2023, the purchase of a primary residence worth up to £250,000, by a UK resident, is tax-free with respect to SDLT. [ 67 ]
Hong Kong Sea Cadets Corps Cap.1134 Ordinance 1984 Originally Cap.75 1983 City University of Hong Kong Ordinance Cap.1132 Ordinance, establishment of post-secondary institution 1984 1994 Hong Kong Special Administrative Region passport Ordinance Cap.539 Establish the right to create and issue travel document 1997 Ocean Park Ordinance Cap. 388
These national laws apply in Hong Kong by the Hong Kong legislature legislating on the same matter: for example, the Law of the People's Republic of China on the National Flag, a Chinese statute, takes effect in Hong Kong in form of the National Flag and National Emblem Ordinance, a local statute enacted by the local legislature.
Hongkong Post Stamps was a division set up in 1974, charged with promoting and popularising stamp collecting, to meet the ever-increasing demand for Hong Kong stamps ...