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10.21.2021 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

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"ADVISORY NOTICE: HKEX Announces Increase of Stamp Duty on Stock Transactions Aug 1"

posted by CAPIS on 06/21/2021 at 11:49 am

by CAPIS

06/21/2021 at 11:49 am

Please see Trading Notice below from the Hong Kong Stock Exchange

Contact our trading desk for further information on the proper booking of stamp duties, taxes, and fees in international stocks at 866.349.6216 or intl@capis.com

 

Subject: Increase of Stamp Duty on Stock Transactions

Enquiry: Participant General Enquiry Hotline1 (Tel : 2840 3626 E-mail : trd@hkex.com.hk)

Exchange Participants (EPs) are requested to note that the Government published in The Gazette the “Revenue (Stamp Duty) Bill 2021“ (the “Bill”) on 5 March 2021, and on 2 June 2021 second and third readings have been passed by the Legislative Council, confirming that the Bill, will come into effect on 1 August 2021. Under the Bill, along with other amendments, the rate of Stamp Duty payable on contract notes for the sale or purchase of Hong Kong stocks (not being jobbing business) will be increased from 0.1% to 0.13%, as a percentage of transaction value (“stamp duty increase”). For details, please refer to the Government Press Release and the Bill.

EPs are reminded to take all necessary actions to prepare for the stamp duty increase including enhancing their Broker Supplied Systems, back office systems, relevant applications and operational facilities.

Olivia Mak
Senior Vice President
Trading Operations
Markets Division

https://www.hkex.com.hk/-/media/hkex-market/services/circulars-and-notices/participant-and-members-circulars/sehk/2021/ce_sehk_ct_080_2021.pdf?la=en

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