Friday, November 27, 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:
Traders and food businesses rake in HK$5.2 trillion (11-27 17:36)
Villagers and developer convicted for village house scam (11-27 16:59)
Mainlander who laundered HK$2.5b jailed (11-27 16:20)
Leung Kwok-hung ejected from Legco lunch (11-27 16:18)
ATV exec Ip Ka-po convicted over delayed staff pay (11-27 16:17)
Another leaked HKU audio clip suggests legal action move (11-27 13:11)
Airport terminal cost blowout reaches HK$16.5b (11-27 12:58)
Hong Kong trade slide continues in October (11-26 17:01)
Unsteady island seen as cause of bridge delay (11-26 16:46)
Elderly Wong Tai Sin wife killer jailed (11-26 13:45)

More breaking news >>

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