HKMA has announced it has doubled the ad valorem stamp duties on both residential and non-residential properties.
It is to the surprise of some and to no surprise of others. Please follow the link and give it a read, it’s quite an entertaining alternative. Hong Kong’s own “corporate crusader” David Webb has presented an “Alternative Budget Speech, 2013”. It’s a shame because the news of doubling stamp duties may take over the spotlight from Hong Kong’s shortage of baby formula epidemic, or I may be wrong.