Stefano Mariani recently contributed to the Hong Kong Law Journal, analysing the implications of the decision of the Court of Appeal in Ho Kwok Tai v Collector of Stamp Revenue.
In Ho Kwok Tai v Collector of Stamp Revenue, the Court of Appeal held that the respondent taxpayer was not eligible for a refund of additional ad valorem stamp duty (AVD) where he completed the disposal of two residential properties he had previously owned shortly after entering into an agreement to purchase a single replacement property.
Stefano critically analysed the court’s decision with reference to both the reasoning of the Court of First Instance’s judgment below, which found for the taxpayer, and the proper construction of s 29DF of the Stamp Duty Ordinance (Cap 117), which was the statutory provision on which the dispute turned. Many of the better arguments in support of the taxpayer’s case were apparently not canvassed by his legal counsel, which emphasises the central importance of instructing specialist tax advisors in successfully pursuing tax appeals.
Please click here to read the article.