Sunday, May 24, 2015   

Stamp Duty debate continues
(07-14 18:37)

A debate is continuing in the Legislative Council over proposed amendments to a government bill to double the stamp duty on property transactions.
Councilors had passed the second reading of the bill Monday morning.
The government hopes the bill will be passed before Legco's summer recess to help cool the property market.
Lawmakers earlier voted down an amendment put forward by councilor Abraham Shek Lai-him, to exempt companies from paying double stamp duty when they purchase commercial properties.
Meanwhile, the Monetary Authority's Chief Norman Chan Tak-lam says existing property tightening measures could be relaxed once an about-turn in the housing market takes hold.
But Chan said there's no way he can foresee the start of falling prices, nor its speed or magnitude, or whether any fall was only a brief respite or indeed a market turn.
Writing in his weekly blog, Chan said he understood that the tightening measures had been considered as "spoiling the party by taking away the punch bowl".
But he said they were necessary contain market bubbles. --RTHK   
Other Hong Kong breaking news:
Max Mara and Renzo Piano unveil one of a kind work of art (05-22 18:52)
Max Mara opens flagship in commercial hub (05-22 18:41)
Access to cross-border funds will widen product range and expand client base, officials say (05-22 18:27)
Justice minister defends action against protesters (05-22 17:42)
20 children at Tai Po kindergarten infected with foot and mouth disease (05-22 16:34)
Cathay, union to hold talks on Wednesday (05-22 15:12)
Send the mainland-born boy back, says activist (05-22 14:31)
High Court starts hearing on review plea over reform (05-22 14:28)
Labor chief says nurturing local talent a priority (05-22 11:30)
HK-bound illegal sea cucumber haul seized in Mexico (05-22 10:02)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.