PRESS RELEASE

(Source : Information Services Department)

Stamp Duty (Amendment) Bill 2022 gazetted

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     The Government published in the Gazette today (November 18) the Stamp Duty (Amendment) Bill 2022 to give effect to the proposal of exempting the stamp duty payable for certain transactions relating to dual-counter stock made by market makers.
  
      "The proposed stamp duty exemption is to create favourable conditions for market makers to engage in market making and liquidity providing activities with lower transaction costs, thereby promoting the trading of Renminbi (RMB) stocks, enhancing the use of RMB in Hong Kong for investment purposes and contributing to the RMB internationalisation process," a Government spokesperson said.
  
      The Bill will be introduced into the Legislative Council for first reading on November 30.

Ends/Friday, November 18, 2022 
Issued at HKT 12:00

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