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Hong Kong Has No Plan to Cut Stamp Duty After Ip Floats Idea

  • Advisor earlier said government may consider reducing levies
  • Developer shares pare gains following official statement
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WATCH: Executive Council Convenor Regina Ip discusses Hong Kong’s reduced hotel quarantine, the workings of the government under John Lee and her assessment of the economy. Hong Kong subsequently said it had no plans to relax the stamp duty on home purchases.Source: Bloomberg
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Hong Kong said it had no plans to relax the stamp duty on home purchases, following comments from a top government adviser that it was among policies under consideration to shore up the economy.

“Mainland professionals have been clamoring for the double stamp duty to be waived for them, even before they acquire the right of abode,” Regina Ip, convenor of the government’s advisory Executive Council, told Bloomberg Television on Tuesday. “It is all a raft of measures under consideration and this is certainly something that the government could consider.”