Passage of Stamp duty bill

  • Writer : Admin
  • Date : 2023.11.15

The Government welcomed the passage of the Stamp Duty (Amendment) (Stock Transfers) Bill by the Legislative Council on 15 November to give effect to the measure of reducing the rate of Stamp Duty on Stock Transfers to 0.1% as announced in the 2023 Policy Address.

The reduction of the stamp duty rate will lower investors' transaction costs, improve market sentiment and enhance the competitiveness of Hong Kong's stock market, the Government explained.

It added that it will work with financial regulators and the Hong Kong Exchanges & Clearing to follow up on other measures recommended by the Task Force on Enhancing Stock Market Liquidity to promote the sustainable development of the market.

The amendment ordinance will be published in the Gazette on 16 November and come into operation the following day.