Hong Kong 2013-14 Tax Facts
Property Tax, Estate Duty, Stamp Duty, other duties and fees
Charged at the standard rate of 15% on 80% of the rent receivable on non-corporate owners of real estate in Hong Kong. Corporate lessors of real properties are subject to Profits Tax.
No estate duty is charged in Hong Kong for the estates of those who die on or after 11 February 2006.
- Share transfers: 0.2%
- Land transfers:
HK$ New duty rates1 Old duty rates1,2 Up to 2m 1.5% HK$100 2m – 3m 3.0% 1.50% 3m – 4m 4.5% 2.25% 4m – 6m 6.0% 3.00% 6m - 20m 7.5% 3.75% Over 20m 8.5% 4.25% 1 Subject to marginal relief and the government’s announcement on 22 February 2013 being enacted into law.
2 Applicable to a Hong Kong Permanent Resident who does not own any other residential property in Hong Kong at the time of acquiring a residential property and certain other limited circumstances.
On top of the rates listed above, transfers of residential properties (i) which are acquired on or after 20 November 2010 within two years will be subject to an additional Special Stamp Duty (SSD) at rates ranging from 5% to 15%; and (ii) which are acquired on or after 27 October 2012 within three years will be subject to an additional SSD at rates ranging from 10% to 20%#.
In addition, residential properties acquired by any person (including an incorporated company, regardless of its place of incorporation) except a Hong Kong Permanent Resident on or after 27 October 2012 will be subject to an additional Buyer's Stamp Duty at a flat rate of 15%#.
#Subject to the relevant government’s announcement being enacted into law.
- Share and land transfers – intra group (≥90% shareholding): Exempt
Other duties and fees
- Air Passenger Departure Tax: HK$120 (passenger under age 12 exempt)
- Betting Duty:
- Various rates on horse races (on gross profits)
- 25% on lotteries (on turnover)
- 50% on football betting (on gross profits)
- Business Registration Fee:
- 1-year certificate plus levy HK$2,450**
- 3-year certificate plus levy HK$6,550**
- Capital Duty: Abolished since 1 June 2012.
- Hotel Accommodation Tax: 0%
- Duties: Various rates on alcohol, tobacco and hydrocarbons
- Motor Vehicle First Registration Tax: Marginal tax rates of up to 115% on taxable values for private cars and other vehicles
**The fee portion of HK$2,000 is proposed to be waived for 2013-14 in the 2013-14 budget