STAMP DUTY ORDINANCE - minor amendment

STAMP DUTY ORDINANCE - minor amendment

CHAPTER 117

STAMP DUTY

The Stamp Duty Ordinance is amended-

(1) in section 38-

(a)in the definition of 'incorporated public officer' by
repealing 'Secretary for District Administration Incor-
porated' and substituting 'Secretary for Home Affairs
Incorporated';

(b)by adding before the definition of 'premises of the Visa
office'-
'premises of the Committee' means any premises in
respect of which the Chief Secretary has issued a
certificate under section 43(3)(a); (Added 36 of
1989s.5)

(2) in section 43(1) and (2) by adding 'of the Committee,' after
'consular premises or premises'3;

(3) in section 43(3)(a)--

(a) by repealing 'and' at the end of subparagraph (iii);

(b) by adding after subparagraph (iii)-
(iv) in respect of premises which are exempt from
taxation under the Privileges and Immunities (Inter-
national Committee of the Red Cross) Ordinance
(Cap. 402), that such premises are premises of the
Committee for the purposes of this Part; and
(Added36 of 1989 s. 5)

(4) in section 43(3)(b)-

(a) by repealing 'and' at the end of subparagraph (ii);

(b)by repealing the fullstop at the end of subparagraph (iii)
and substituting '; and';

(c) by adding after subparagraph (iii)--
(iv) in respect of a delegate within the meaning of
the Privileges and Immunities (International Com-
mittee of the Red Cross) Ordinance (Cap. 402), that
such person is an exempted person for the purposes of
this Part. (Added 36 of 1989 s. 5)

(5) in the First Schedule under the heading 'HEAD 1:
IMMOVABLE PROPERTY IN HONG KONG by repealing
sub-head (1) (including Note 1 thereto) and substituting---





(1) CONVEYANCE ON SALE

(a) where the amount or value (A) (a) $20
of the consideration does
not exceed $250,000 and the
instrument is certified in
accordance with section 29
at $250,000;
(b) where the amount or value (b) $20 plus 10% of the
of the consideration exceeds amount by which the
$250,000 but does not amount or value of the
exceed $270,057 and the consideration exceeds
instrument is certified in $250,000
accordance with section 29
at $270,057;
(c) where the amount or value (c) 75 cents for every $100 or
of the consideration exceeds part thereof of the amount
$270,057 but does not or value of the
exceed $500,000 and the consideration
instrument is certified in
accordance with section 29
at $500,000;
(d) where the amount or value (d) $3,750 plus 10 % of the
of the consideration exceeds amount by which the
$500,000 but does not amount or value of the
exceed $544,130 and the consideration exceeds
instrument is certified in $500,000
accordance with section 29
at $544,130;
(e) where the amount or value (e) $1.50 for every $100 or part
of the consideration exceeds thereof of the amount or
$544,130 but does not value of the consideration
exceed $ 1,000,000 and the
instrument is certified in
accordance with section 29
at $1,000,000;
(f) where the amount or value $15,000 plus 10% of the
of the consideration exceeds amount by which the
51,000,000 but does not amount or value of the
exceed $1,062,520 and the consideration exceeds
instrument is certified in $1,000,000
accordance with section 29
at $1,062,520;
(g) where the amount or value (g) $2 for every $ 100 or part
of the consideration exceeds thereof of the amount or
$1,062,520 but does not value of the consideration
exceed $1,500,000 and the
instrument is certified in
accordance with section 29
at $1,500,000;

(h) where the amount or value (h) $30,000 plus 10% of the
of the consideration exceeds amount by which the
$1,500,000 but does not amount or value of the
exceed $1,655,180 and the consideration exceeds
instrument is certified in $1,500,000
accordance with section 29
at $1,655,180;

(i) in any other case (i)$2.75 for every $100 or part
thereof of the amount or
value of the consideration





(B)30 days after execution; but see
Note 2 to this sub-head
(C)All parties, and all other persons
executing; but see Note 2 to this
sub-head

And see sections 2, 4, 22, 23, 24, 25,
26, 27, 28, 29, 39, 43, 44 and 45
Note 1
This sub-head shall apply in
relation to the stamp duty
chargeable by reference to it by
virtue of sub-head (2)(a), in a case
where part of the consideration for
a lease consists of rent, as if
paragraphs (a) to (h) and the words
'in any other case' in paragraph (i)
were omitted
L.N. 263 of 1989 36 of 1989 s. 5. 29 of 1988 s. 2.

L.N. 263 of 1989 36 of 1989 s. 5. 29 of 1988 s. 2.

https://oelawhk.lib.hku.hk/items/show/3691

1964

v31

117

3