Description

Buyer’s stamp Duty (BSD) was introduced in 2012 to cool the overheated residential property market in Hong Kong and has since become one of Hong Kong’s most resented and controversial taxes. Charged at a flat rate of 15%, it is a major fiscal consideration in the sale and purchase of residential property. From both policy and legal perspectives, it has given rise to repeated disputes between taxpayers and the Stamp Office. The law governing BSD and its various exemptions is often confusing to laymen and even to practitioners, and full of practical and legal pitfalls for the unwary taxpayer. This seminar seeks to provide a clear and comprehensive introduction to the legal and practical problems associated with BSD and obtaining BSD relief and, in particular, to discuss how both the Stamp Office and the courts of Hong Kong have addressed those problems. Participants will gain insight on both BSD planning and BSD dispute resolution, as well as having the opportunity to discuss the most recent developments in this field.