Visit our new website:

HK$350 levy proposed on every property transaction to fund new management watchdog

  • Wed, 13 Sep 2017 00:43
Tens of thousands of Hong Kong property buyers face an extra HK$ 350 (US$ 19) levy on top of existing stamp duties, for every deal signed, starting from next year. Tony Tse, chairman of the fledgling Property Management Services Authority (PMSA), revealed the proposed new tax this week, to be used to help fund the authority’s running. It would apply to purchases of all types of property, from shops and offices to homes and car parks. It is awaiting approval from Legco’s Finance... South China Morning Post - Hong Kong & China feed


Related Stories

Mutual fund giant Vanguard says hack at SEC won't hurt clients
  • Fri, 22 Sep 2017 20:29

BOSTON (Reuters) - Vanguard Group, the largest U.S. mutual fund company, said on Thursday that the hack into the Securities and Exchange Commission's ...

Bumpy ride ahead for theme park operators in China
  • Fri, 22 Sep 2017 16:44

Despite all the excitement over the theme park businesses in China, Wang Xuguang, chief executive of Dalian-based Haichang Ocean Park Holdings, refuse...

Science Café in Dallas - Should we be concerned by Risk Management?
  • Fri, 22 Sep 2017 16:31

The Office for science & technlogy of the Consulate general of France in Houston and the French-American Chamber of Commerce of Dallas/Fort Worth ...

MTR chairman ‘still considering’ money for Hong Kong arson victims amid criticism
  • Fri, 22 Sep 2017 12:47

Hong Kong’s railway operator is “still considering spending money to help” victims of a petrol attack on one of its trains early thi...

Sobeys donate $6.5 million to fund for students at N.S. community college
  • Fri, 22 Sep 2017 12:24

The family behind the Sobeys grocery empire is donating $ 6.5 million to improve educational facilities and provide bursaries to future students faci...

Huarong freezes new loans to developer Sunac
  • Fri, 22 Sep 2017 10:44

China Huarong Asset Management, one of the country’s big four state-owned bad loan banks, has ordered a suspension of new lending to property gi...

An NBA first: Every coach who started last season is back
  • Fri, 22 Sep 2017 09:18

MIAMI — Dozens of NBA players found new homes this offseason. A few front offices dealt with hirings and firings. - Sports

China’s developers to face a major debt refinancing scramble in 2018, rating agencies say
  • Fri, 22 Sep 2017 08:45

China is set to experience a wave of maturing debt in 2018 as Chinese property developers set about a major refinancing cycle expected to last two yea...

East Ventures closes new $30M fund to continue investing in Indonesia
  • Fri, 22 Sep 2017 08:00

 East Ventures is back at it again with another new fund to invest in early-stage companies in Indonesia, Southeast Asia’s largest economy ...

New World weighs ‘super low’ down payment scheme to help university grads get on housing ladder
  • Fri, 22 Sep 2017 06:43

New World Development is considering a special financing scheme to help local university graduates gain a foothold on the housing ladder at “sup...

Intruder breaks into former Canadian official’s Hong Kong home
  • Thu, 21 Sep 2017 22:43

The former executive director of the Canadian Chamber of Commerce, David Nesbitt, became the latest victim in a recent spate of high profile break-ins...

Changing the game: Macau bets big on sports in bid to shed its gambling image
  • Thu, 21 Sep 2017 20:44

Macau has earned a reputation as the Las Vegas of Asia for good reason, right down its own garish fake Eiffel Tower at the Parisian. Now its cavernous...

News Categories