The Hong Kong government has published a press statement to announce and welcome the passage of the Stamp Duty (Amendment) Bill 2022 by the Legislative Council. The Bill will be officially gazetted on January 27, 2023 and come into force on that date.
The Bill will add new schedule 11 to the Stamp Duty Ordinance to exempt market makers from having to pay stamp duty on „certain transactions relating to dual-counter stock“. Specifically, the Bill will entirely waive such payment for both sales and purchases of Hong Kong stock provided that the equity has got more than one tranche in different currencies traded at a primary and secondary designated dual stock counter of a market maker.
Other Features
fees
securities trading
Date Published: 2023-01-18
Date Taking Effect: 2023-01-27
Regulatory Framework: Stamp Duty Ordinance
Regulatory Type: draft
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