IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 26 Oct 2012 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

Hong Kong financial secretary, John Tsang, has announced a property tax for non-local and corporate buyers on 26 October 2012. A tax of 15% will have to be paid on purchase. Permanent residents (living in Hong Kong for 7 consecutive years) and citizens (born in Hong Kong) will not be subject to this tax. 
This measure is mainly targeting property investors. The objective of this measure, it has been contended,is to stabilise the market and to prevent a housing bubble.

AFFECTED COUNTRIES

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