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HK's stamp duty addiction
Webb-site.com, 2-Mar-2010
We look at the HK Government's opium-like addiction to stamp duty revenues, which have more than quintupled in 7 years. The budget asks for another fix. Stamp duty is sand in the wheels of the economy, distorting economic decisions and reducing economic output. It should be abolished rather than increased further. Higher stamp duty does not improve property affordability. HK needs a root-and-branch review of taxation to refocus on fair taxation of GDP rather than one-off measures and distortive policies.

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