Sunday, December 21, 2014   

Double stamp duty slammed
(07-11 13:47)

Pro-business legislators have sharply criticized the government for refusing to exempt companies from paying the double stamp duty when they buy commercial properties.
During the second reading of the bill, Liberal Party Councillor James Tien Pei-chun said the double stamp violates the principle of a free market and he would support all amendments that could water down the measure.
Legislator Abraham Shek Lai-him, who represents the real estate and construction sector, said that since the government introduced what he called the "emergency measures" in late 2012, home prices had gone up by 35 percent, and transactions on residential properties had dropped significantly.
He said the double stamp duty will hurt Hong Kong's economy.
The Financial Secretary John Tsang Chun-wah said the measure, introduced in February last year, had been effective in controlling property prices.
He reiterated that the higher stamp duty would not hurt the territory's competitiveness. --RTHK   
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(SHKP trial) Verdicts for high profile bribery case of Rafael Hui, Kwok borthers (12-19 18:35)
(SHKP trial) Rafael Hui: from top official to convicted (12-19 18:16)
(SHKP trial) Billionaire brothers at heart of trial (12-19 18:11)
(SHKP trial) ICAC remains unbiased in investigations (12-19 17:13)
(SHKP trial) Jurors exempted from jury duty in five years (12-19 17:00)
(SHKP trial) Raymond Kwok thankful his name cleared (12-19 16:42)
(SHKP trial) Alan Leong calls for improvement in vetting and disclaration system (12-19 16:35)
(SHKP trial) 'Black eye' for Hong Kong: analyst (12-19 16:32)

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