HK introduces stamp duty suspension arrangement for incoming talents' acquisition of residential properties

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HK introduces stamp duty suspension arrangement for incoming talents' acquisition of residential properties

STORY: HK introduces stamp duty suspension arrangement for incoming talents' acquisition of residential properties DATELINE: Oct. 26, 2023 LENGTH: 0:02:02 LOCATION: HONG KONG, China CATEGORY: POLITICS SHOTLIST: 1. various of John Lee's second policy address 2. SOUNDBITE (Chinese): JOHN LEE, HKSAR Chief Executive 3. various of Hong Kong STORYLINE: Hong Kong introduces a stamp duty suspension arrangement for incoming talents' acquisition of residential properties, John Lee, chief executive of China's Hong Kong Special Administrative Region (HKSAR), said on Wednesday. Under the suspension arrangement, the payment of stamp duty concerned is suspended at the time of property acquisition, but the talent is required to pay the relevant amount if he or she is subsequently unable to become a Hong Kong permanent resident, Lee said while delivering his second policy address to the HKSAR Legislative Council. This is an enhancement of the stamp duty refund arrangement introduced last year for eligible incoming

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