Govt Decides To Impose Vacancy Tax: Sources
"); jQuery("#212 h3").html("
"); });
2018-06-08 HKT 18:54
Share this story
Sources say the government has decided to impose a vacancy tax on property developers that hold on to completed units.
There has been a sharp increase in the number of unsold completed flats since the third quarter of last year. Government data shows there were 9,000 such units as of March.
Two thousand had been completed between 2011 and 2015.
On Monday, the Financial Secretary Paul Chan said the government had almost completed its study on the new tax. He also said the tax will not affect existing home owners.
It is understood that the new tax will apply to all sizes of flats but details still need to be hammered out.
Is Hong Kongs Default Life Insurance Choice A Wealth Drain?
Hong Kong is a city that takes financial security seriously, boasting one of the highest insurance penetration rates in... Read more
RedotPay Secures $107M Series B, Total Funding Hits $194M
RedotPay, a global stablecoin-based payment fintech, has closed a US$107 million Series B round, bringing its total cap... Read more
91% Of Hong Kong Merchants Lose Revenue To Payment Friction
Aspire has released its Hong Kong Ecommerce Pulse Check 2025, highlighting that while mid-sized ecommerce merchants rem... Read more
Do Kwon Faces Possible Trial In Korea After US Conviction
Do Kwon, the crypto tycoon behind the 2022 collapse of TerraUSD and Luna, caused an estimated US$40 billion in investor... Read more
Startale, SBI Holdings To Develop Japans Regulated Yen Stablecoin
Startale Group and SBI Holdings have signed a MoU to jointly develop and launch a fully regulated Japanese yen-denomina... Read more
KakaoBank Expands In Indonesia Through Superbank Partnership
KakaoBank, South Korea’s largest internet-only bank, is accelerating its global expansion through a deepened partners... Read more