Boon for owners of commercial property in Hong Kong as hefty stamp duty is abolished with immediate effect

Hong Kong is easing the tax burden on owners of commercial property who sell their assets and will promote local enterprises in the Greater Bay Area and overseas, in efforts to help companies ride out the severe impact of the Covid-19 pandemic.In her policy address on Wednesday, Chief Executive Carrie Lam Cheng Yuet-ngor announced the end of double stamp duty (DSD) for non-residential properties.The move, approved by her Executive Council on Wednesday, takes effect on Thursday and is expected…

Read the original article at South China Morning Post