STAMP DUTY (AMENDMENT) BILL 1988
Enclosure No.4
1
A BILL
To
Amend the Stamp Duty Ordinance.
Enacted by the Governor of Hong Kong, with the advice and consent
of the Legislative Council thereof.
1.
.
This Ordinance may be cited as the Stamp Duty (Amendment) Short title and Ordinance 1988 and shall be deemed to have come into operation on 1 April commencement. 1988.
2. The First Schedule to the principal Ordinance is amended under Amendment of the heading "HEAD 1: IMMOVABLE PROPERTY IN HONG KONG" First Schedule. by deleting sub-head (1) (including Note I thereto) and substituting the (Cap. 117.) following-
“(1) CONVEYANCE ON SALE
(a) where the amount or
value 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 of the consideration exceeds $250,000 but does not exceed $270,057 and the instrument is
certified in accordance
with section 29 at $270,057;
(A) (a) $20
(b) $20 plus 10% of the
amount by which the amount or value of
the consideration exceeds $250,000