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Latest Notice » Adjustment of the Hong Kong Stamp Duty effective from August 2 2021
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Adjustment of the Hong Kong Stamp Duty effective from August 2 2021
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Dear CGS-CIMB iTrade Customers, |
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Please be informed that there will be an increase of Hong Kong Stamp Duty on Stock Transactions from 0.10% to 0.13% effective from Monday August 2, 2021.
OliviaSubject:
Increase of Stamp Duty on Stock Transactions
Enquiry:
Exchange Participants (EPs) are requested to note that the Government published in The Gazette the “Revenue (Stamp Duty) Bill 2021“ (the “Bill”) on 5 March 2021, and on 2 June 2021 second and third readings have been passed by the Legislative Council, confirming that the Bill, will come into effect on 1 August 2021. Under the Bill, along with other amendments, the rate of Stamp Duty payable on contract notes for the sale or purchase of Hong Kong stocks (not being jobbing business) will be increased from 0.1% to 0.13%, as a percentage of transaction value (“stamp duty increase”).
For details, please refer to the Government Press Release and the Bill.
EPs are reminded to take all necessary actions to prepare for the stamp duty increase including enhancing their Broker Supplied Systems, back office systems, relevant applications and operational facilities.
Olivia
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For more details, please click here. |
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Yours sincerely, |
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CGS-CIMB Securities Sdn Bhd (197901004504)(48703-W) |
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(A Participating Organisation of Bursa Malaysia Securities Berhad) |
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