Global Daily Tax News, Hong Kong Signs Off On Stamp Duty Amendment Bill, (Jul 9, 2026)

Hong Kong's Legislative Council has passed the Stamp Duty (Amendment) (No. 2) Bill 2026.

The legislation provides for the calculation and payment of stamp duty arising from transactions of dual-counter stocks conducted at the Renminbi (RMB) counter in RMB.

The Hong Kong stock exchange (HKEX) launched a RMB counter for trading of HKEX shares under the HKD-RMB Dual Counter Model from June 19, 2023. The Dual Counter Model enables issuers to offer the same classes of shares to investors concurrently in either Hong Kong dollars or Renminbi.

RMB-traded shares and HKD-traded shares are of the same class of shares in the share capital of HKEX and are interchangeable from one counter to another. They rank equally in all respects, including in relation to dividends, distributions, and voting.

The legislation enables the payment of stamp duty arising from RMB counter stock transactions in RMB, allowing investors to settle both their trades and the associated stamp duty and other levies or charges in RMB at the same RMB counter.

The Government said, "The arrangement is expected to increase the turnover and liquidity of the RMB counter, which in turn strengthens the role of RMB as an international investment currency, further consolidating Hong Kong's status as a leading offshore RMB business hub."

The Amendment Ordinance will be published in the Gazette on July 17. The new arrangements will commence on a day to be appointed separately by the Secretary for Financial Services and the Treasury by notice published in the Gazette.