Valuation for Taxation & Stamp Duty Appeal
We do provide professional Valuation Report for individual or company clients for submission to Hong Kong’s Inland Revenue Department or any overseas taxation institutions for accounting, taxation or any other purposes.
Regarding to the Stamp Duty in Hong Kong, the amount mostly depends on the transaction price of the property. However, relevant government department has the absolute authority to re-assess the market value of the property to determine the stamp duty payment amount. If the tax payer wishes to appeal for such valuation, he should appoint independent surveyor for the assessment.
In addition, overseas immigrants may need to report to their government and pay the corresponding capital gain tax for the sold or to-be-sold properties in Hong Kong. Our Valuation Team includes international registered surveyors who are absolutely able to provide assessment report meeting necessary requirements for the said capital gain tax purposes.
What should you do if you disagree with stamp duty assessment?
According to the Stamp Duty Ordinance, taxpayers can appeal to the District Court within one month from the date of issue of the assessment notice. If they wish to appeal against the valuation, they can engage an independent surveyor to assess the value of the property in question and submit the evidence for the appeal.