Adjustment of value bands of the ad valorem stamp duty

Licensees should note that the Financial Secretary announced at the presentation of the 2023-24 Budget yesterday to adjust the value bands of the ad valorem stamp duty payable for sale and purchase or transfer of residential and non-residential properties (Rates at Scale 2) to ease burden on ordinary families of purchasing their residential properties, particularly small and medium residential units. The adjustment has come into effect at 11am yesterday.

For details, please refer to the webpage of the Budget (www.budget.gov.hk/2023) or Inland Revenue Department (www.ird.gov.hk).

(23 February 2023)