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Section 22 - Stamp duty chargeable where consideration in respect of immovable property consists of stock or security other than stock; Section 24 - Stamp duty chargeable where conveyance etc. is in consideration of debt etc. Section 29H - Exemptions and relief; Section 31 - Duty of trustees and managers to keep records
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 ...
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 is collected upon existence of certain transactions in Hong Kong. The three major types of transactions that attract stamp duties are transfers of Hong Kong immovable properties, transfers of Hong Kong shares and leases of immovable properties. Stamp Duties are chargeable on dutiable instruments.
Stamp Duty Ordinance Cap. 117: Ordinance 1981 replaced Cap.31 1981 Tax Reserve Certificates Ordinance Cap.289: Ordinance, taxation 1955 Replaced Cap.66 1955
Holidays (1997 and 1998) Bill - replaced former Ordinance and holidays like the Queen's Birthday and Liberation Day with National holidays of China and Reunification Day; Urban Council (Amendment) Bill 1997 - renaming it as Provisional Urban Council; Regional Council (Amendment) Bill 1997 - renaming it as Provisional Regional Council
Revenue stamp; Tax assessment; Taxable income; Tax lien; ... Duty; Tariff. Import; Export; Tariff war; ... The Inland Revenue Ordinance is one of Hong Kong's Ordinances.
The rate of stamp duty on such transactions varies according to the status of the transferee; if the transferee is a Belonger, then stamp duty on land transfers is assessed at 4%; if the transferee is a Non-Belonger, it is assessed at 12%.