Govt clarifies that there is no relaxation of stamp duties for property for the time being


9th August 2022 – (Hong Kong) Regarding reports that the Government is considering the relaxation of stamp duties for property, the Government clarifies that there has not been discussion on the matter, and points out clearly that there are no relevant plans.

“Mainland professionals have been clamouring for the double stamp duty to be waived for them, even before they acquire the right of abode,” Regina Ip, convenor of the government’s advisory Executive Council, told Bloomberg Television on Tuesday. “It is all a raft of measures under consideration and this is certainly something that the government could consider.”

Ip’s comments triggered a rally in local developer shares. The stocks pared gains after the government said in a statement it didn’t plan to reduce property taxes.