Hong Kong Inland Revenue has announced the abolition of Doubled Ad Valorem Stamp Duty on Non-residential Property Transactions with effect from 26 November 2020. Inland Revenue also published links for additional details on Ad valorem stamp duty and the relevant FAQs and Illustrative Examples.
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Abolition of Doubled Ad Valorem Stamp Duty on non-residential property transactions
The Chief Executive, Mrs Carrie Lam, announced today (November 25) in her Policy Address the introduction o…