Monday, December 22, 2014   

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:
Six vehicle collision in Kwun Tong (12-22 12:02)
Migitation pleas begin for Rafael Hui case (12-22 11:18)
(SHKP trial) Thomas Kwok steps down as chairman (12-19 19:24)
(SHKP trial) Two middlemen detained after convicted (12-19 18:50)
(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)

More breaking news >>

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