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HK$350 levy proposed on every property transaction to fund new management watchdog

  • Wed, 13 Sep 2017 00:43
Tens of thousands of Hong Kong property buyers face an extra HK$ 350 (US$ 19) levy on top of existing stamp duties, for every deal signed, starting from next year. Tony Tse, chairman of the fledgling Property Management Services Authority (PMSA), revealed the proposed new tax this week, to be used to help fund the authority’s running. It would apply to purchases of all types of property, from shops and offices to homes and car parks. It is awaiting approval from Legco’s Finance... South China Morning Post - Hong Kong & China feed

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