ADVISORY NOTICE: HKEX Announces Increase of Stamp Duty on Stock Transactions Aug 1
Please see Trading Notice below from the Hong Kong Stock Exchange Contact our trading desk for further information on the proper booking of stamp duties, taxes, and fees in international stocks at 866.349.6216 or [email protected] Subject: Increase of Stamp Duty on Stock Transactions Enquiry: Participant General Enquiry Hotline1 (Tel : 2840 3626 E-mail :…
Please see Trading Notice below from the Hong Kong Stock Exchange
Contact our trading desk for further information on the proper booking of stamp duties, taxes, and fees in international stocks at 866.349.6216 or [email protected]
Subject: Increase of Stamp Duty on Stock Transactions
Enquiry: Participant General Enquiry Hotline1 (Tel : 2840 3626 E-mail : [email protected])
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 Mak
Senior Vice President
Trading Operations
Markets Division