Inland Revenue Department (IRD) has developed a simple stamp duty program to help you calculate stamp duty payable on property transfer instruments (i.e. residential real estate sales agreements and non-residential property allocations) and leases. All you need to do is enter the price/value of the building or the duration and lease of the lease, and then press the „Calculate“ button. The amount of stamp duty payable is displayed. (ii) On February 22, 2013, the Financial Secretary announced that the government would amend the stamp tax regulations to adjust ad Valorem stamp duty rates (DCA). The new AVD rates are as follows: The amount of stamp duty payable is determined by the current rates of stamp duty, the duration of the tenancy and the rent that the tenant must pay under the tenancy agreement. In addition, a proof of rent must be stamped before it can be submitted to the land registry for registration. 10 stamp duty is $425 Example 6 [ 7,000 x 12 x $5 (for copy]). On February 1, 2010, a 2-copy lease was signed for a 7-year term beginning July 1, 2010, with a monthly rent of $12,000 for the first two years and $15,000 for the last two years. For non-residents and business buyers who purchase real estate in Hong Kong, a 15% stamp duty must be paid at the time of purchase, in addition to the stamp duty and, if applicable, stamp duty collected. 4.25% of the consideration if the rent is also payable under the tenancy agreement.
Otherwise, the same tax as for the sale of real estate is calculated stamp duty at rates varying with the duration of the lease, as follows: Note: Stamp duty is generally distributed equally between the landlord and the tenant. The creation of a home rental contract can be made orally or by a rental agreement or a rental agreement. The differences between a lease and a lease include the duration and formality of the execution. If the lease term does not exceed three years, a lease agreement is generally agreed. This will be done in writing and will include a simpler method of execution. The lease may or may not be registered. When the term is longer than three years, a lease is required in accordance with Section 4 (1) of the Promotion and Property Regulations (Chapter 219). This must be done by the facts and must follow the formal procedure of execution of an act. In accordance with section 3 of the Land Registry Regulation (Chapter 128), a lease must be registered in the Land Registry. (i) With effect as of April 1, 2010, stamp duty on the sale of real estate in Hong Kong is calculated at rates varying according to the amount/value of the consideration or the value of the property: 5 hours of stamp service are:- Monday to Friday from 8:45 to 5:00 (No lunch break) Saturday, Sunday and closed holidays 4.