Q:
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What kind of documents are subject to Hong Kong Stamp Duty?
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A:
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According to the Stamp Duty Ordinance (Cap.117), stamp duty should be imposed on certain types of documents, which are mainly as follows:
1.
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Conveyance on sale;
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2.
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Agreement for sale of immovable property;
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3.
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Lease of immovable property;
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4.
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Transfer of Hong Kong stock.
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Q:
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What are the methods of stamping documents in Hong Kong?
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A:
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There are three ways to stamp:
1.
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You may use the 24 hours e-Stamping service to submit electronic stamp applications for certain types of documents;
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2.
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You may present the original instrument with a stamping request and supporting documents at Stamp Office Counter; or
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3.
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You may submit an application for stamping without presenting the original instrument in respect of agreements and assignments regarding immovable property in paper form at Stamp Office Counter.
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Q:
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Is there any time limit for stamping the above documents?
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A:
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The limit depends on the type of document or transaction. Please find relevant information in the following table:
Nature of Document
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Time Limit
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Conveyance on sale
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Within 30 days after the date of execution
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Agreement for sale of residential property
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Within 30 days after the relevant date (which means the date of the agreement, or, the date of the earliest agreement made by the same parties on the same terms if the agreement to be stamped is preceded by one or more such agreements), except otherwise provided in the Stamp Duty Ordinance
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Agreement for sale of residential property
(Deferred Payment Cases)
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If completed by Assignment, within 30 days after execution of the related Assignment
If re-sale/disposal before Assignment, within 7 days after date of re-sale or disposition
For all cases, the maximum period of deferment is 3 years after the relevant date of the agreement
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Lease
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Within 30 days after the date of execution
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Contract note for purchase or sale of Hong Kong stock
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Within 2 days after the sale or purchase, if effected in Hong Kong; within 30 days after the sale or purchase, if effected elsewhere
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Instrument of Transfer of Hong Kong stock (not including gift)
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If executed in Hong Kong, before the date of execution;
If executed outside Hong Kong, within 30 days after the date of execution
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Gift of Hong Kong stock
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Within 7 days after the date of execution, if executed in Hong Kong;
within 30 days after the date of execution, if executed outside Hong Kong
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Q:
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What is the consequence if the above documents are not stamped within the time limit?
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A:
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A late stamping penalty will be imposed if an instrument is not stamped before or within the time limit for stamping:
Length of Delay
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Penalty
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Not exceeding 1 month
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Double the amount of stamp duty
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Exceeding 1 month but not exceeding 2 months
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4 times the amount of stamp duty
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In any other case
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10 times the amount of stamp duty
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Q:
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What if I have a reason for late stamping, can I apply for remission of penalty?
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A:
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Yes, you can. You can write to the Stamp Office to request for remission of penalty with explanations of the delay and supporting evidence, where appropriate. The Stamp Office Collector may remit partly or wholly the penalty payable depending on individual circumstances of each case.
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