Hong Kong Treasury Department: No plan to allow stamp duty on non-residential property transactions to be paid in installments.

According to the Zhitong Finance APP, on July 30, Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, stated in response to questions from lawmakers that there is currently no plan to allow stamp duty on non-residential property transactions to be paid in installments, for three main reasons. Firstly, the stamp duty on non-residential property transactions currently ranges from HK$100 to a maximum rate of 4.25%, only constituting a small part of the transaction cost, with the highest rate applying to transactions with property prices or values exceeding approximately HK$21.74 million. As stamp duty is generally paid by the buyer, they do not believe that the current arrangement for paying stamp duty would pose financial pressure on non-residential property owners.