>Subject to enactment by the Legislative Council, stamp duty is chargeable on conveyance on sale of immovable property and agreement on sale of residential and non-non-residential property at Scale 1 for conveyance on sale executed on or after 23 February 2013. For conveyance on sale or agreement for sale executed before 23 February 2013 or for residential property purchased by a Hong Kong permanent resident acting on his or her own behalf and he or she does not own any other residential property at the time of acquisition, the stamp duty is at scale 2 which is a lower scale.

>Special stamp duty is payable for conveyance on sale and agreement for sale and purchase of residential property if an individual or corporation acquired a residential property on or after 20 November 2010 and resold within 24 months or acquired on or after 26 October 2012 and resell within 36 months (subject to enactment of the relevant legislation).

>Buyer’s stamp duty is payable for residential property acquired on or after 27 October 2012 in addition to the existing stamp duty and the special stamp duty (if applicable) except a Hong Kong permanent resident acquiring the property on his or her own behalf (pending enactment of legislation).

>A lease of immovable property (if in writing) is subject to stamp duty.

>A sale and purchase of Hong Kong stock is chargeable to stamp duty on the bought and sold not as well as the instrument of transfer.

>Gifts of immovable property or Hong Kong stock is chargeable to stamp duty on the basis of the market value of the asset at the time of execution of the document. For immovable property the gift may also be subject to special stamp duty and buyers’ stamp duty.

>No stamp duty is payable if there has been no change in beneficial interest in an otherwise chargeable asset.

>If a chargeable instrument is not duly stamped, the instrument shall not be received in evidence in any legal proceedings except criminal proceedings or action by the Collector to recover stamp duty or that a personal undertaking has been given by a solicitor to pay the stamp duty and penalty. Such an instrument cannot be acted upon, filed or registered by any public body or body corporate. A broker cannot charge commission for sale and purchase of Hong Kong stock if the contract notes are not duly stamped.

>Transfer of immovable property or Hong Kong stock between associated corporations are exempt from stamp duty