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Court of Appeal ruled bodies corporate that do not have “issued
share capital” would not qualify for stamp duty intra-group
transfer relief
On 5 July 2024, the Court of Appeal handed down its judgement in John Wiley & Sons UK2 LLP and Another v The Collector of Stamp Revenue, overturning the decision made by the District Court that ruled in favor of the duty payers.
Clients who have employed such other types of bodies corporate in their ownership structure of Hong Kong stock and immovable property will need to consider the Hong Kong stamp duty implications if they contemplate any intra-group transfer of such assets. Where necessary, professional tax advice should be sought.