HK budget hands sweetener to ETF providers
A stamp duty waiver first introduced in 2010 for some exchange-traded funds listed in Hong Kong is set to be extended to all such products. The move is expected to boost volume and liquidity.
Investment industry participants and practitioners welcome yesterday’s proposal by the Hong Kong government to exempt exchange-traded funds from stamp duty as part of its 2014-15 budget.
This move is an extension of a the introduction in 2010 of a waiver of stamp duty for ETFs whose AUM was more than 40% comprised of Hong Kong stocks.
The government now plans to waive the 0.1% stamp duty per ETF trade done for both buyer and seller for all such products. This will benefit the re…
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