Stamp duty is a tax that is levied on single property purchases or documents. A physical revenue stamp had to be attached to or impressed upon the document to show that stamp duty had been paid before the document was legally effective. More modern versions of the tax no longer require an actual stamp.
A customs officer is a law enforcement agent who enforces customs laws, on behalf of a government.
Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate. Management indicates the need of real estate to be cared for and monitored, with accountability for and attention its useful life and condition considered. This is much akin to the role of management in any business.
The law of the Hong Kong Special Administrative Region has its foundation in the English common law system, inherited from being a former British colony and dependent territory. There are several sources of law, the primary ones being statutes enacted by the Legislative Council of Hong Kong and case law made by decisions of the courts of Hong Kong.
Taxation in the Republic of Ireland in 2017 came from Personal Income taxes, and Consumption taxes, being VAT and Excise and Customs duties. Corporation taxes represents most of the balance, but Ireland's Corporate Tax System (CT) is a central part of Ireland's economic model. Ireland summarises its taxation policy using the OECD's Hierarchy of Taxes pyramid, which emphasises high corporate tax rates as the most harmful types of taxes where economic growth is the objective. The balance of Ireland's taxes are Property taxes and Capital taxes.
The Customs and Excise Department (C&ED) is a government agency responsible for the protection of the Hong Kong Special Administrative Region against smuggling; the protection and collection of revenue on dutiable goods on behalf of the Hong Kong Government; the detection and deterrence of drug trafficking and abuse of controlled drugs; the protection of intellectual property rights; the protection of consumer interests; and the protection and facilitation of legitimate trade and upholding Hong Kong's trading integrity.
Deeds registration is a land management system whereby all important instruments which relate to the common law title to parcels of land are registered on a government-maintained register, to facilitate the transfer of title. The system had been used in some common law jurisdictions and continues to be used in some jurisdictions, including most of the United States.
Salaries tax is a type of income tax that is levied in Hong Kong, chargeable on income from any office, employment and pension for a year of assessment arising in or derived from the territory. For purposes of calculating liability, the period of assessment is from April 1 to March 31 of the following year.
In Hong Kong, profits tax is an income tax chargeable to business carried on in Hong Kong. Applying the territorial taxation concept, only profits sourced in Hong Kong are taxable in general. Capital gains are not taxable in Hong Kong, although it is always arguable whether an income is capital in nature.
The Inland Revenue Ordinance is one of Hong Kong's Ordinances. It regulates the inland revenue of Hong Kong.
The Estate Duty Ordinance is one of Hong Kong ordinances. It regulates the HK estate duty which was a tax imposed on capital asset - the net value of property situated in Hong Kong at the date of the taxpayer's death. It is chargeable irrespective of whether the deceased was a resident of Hong Kong.
Under Article 108 of the Basic Law of Hong Kong, the taxation system in Hong Kong is independent of, and different from, the taxation system in mainland China. In addition, under Article 106 of the Hong Kong Basic Law, Hong Kong has independent public finance, and no tax revenue is handed over to the Central Government in China. The taxation system in Hong Kong is generally considered to be one of the most simple, transparent, and straightforward systems in the world. Taxes are collected through the Inland Revenue Department (IRD).
The Securities and Futures Commission (SFC) of Hong Kong is the independent statutory body charged with regulating the securities and futures markets in Hong Kong. The SFC is responsible for fostering an orderly securities and futures markets, to protect investors and to help promote Hong Kong as an international financial centre and a key financial market in China. Even though it is considered to be a branch of the government, it is run independently under the authorisation of the laws relating to Securities and Futures.
The Hong Kong Export Credit Insurance Corporation was established in 1966 under the Hong Kong Export Credit Insurance Corporation Ordinance. It was created by statute with the aim of encouraging and supporting export trade by providing Hong Kong exporters with insurance protection against non-payment risks arising from commercial and political events. Its contingent liability under contracts of insurance is guaranteed by the Government of the Hong Kong Special Administrative Region, with the statutory maximum liability currently standing at $55 billion. The Corporation is required to operate in accordance with the requirements laid down in the Hong Kong Export Credit Insurance Corporation Ordinance and to pursue a policy directed towards securing revenue sufficient to meet all expenditure properly chargeable to its revenue account. It is a 'public body' under the Prevention of Bribery Ordinance. HKECIC staff are not permitted to accept any advantages from HKECIC customers. Anybody offering any advantages to HKECIC staff in connection with official business commits an offence.
The practice of trial by jury has a long history in Hong Kong. Like most jurisdictions with jury trial, this tradition was introduced into Hong Kong when it became a British colony. The Ordinance for the Regulation of Jurors and Juries was first enacted in 1845. Ever since then, the practice of trial by jury has been important part of Hong Kong’s judicial system. This is also recognised in the Basic Law, Article 86: "The principle of trial by jury previously practised in Hong Kong shall be maintained."
Following the common law system introduced into Hong Kong when it became a Crown colony, Hong Kong's criminal procedural law and the underlying principles are very similar to the one in the UK. Like other common law jurisdictions, Hong Kong follows the principle of presumption of innocence. This principle penetrates the whole system of Hong Kong's criminal procedure and criminal law. Viscount Sankey once described this principle as a 'golden thread'. Therefore, knowing this principle is vital for understanding the criminal procedures practised in Hong Kong.
The Transfer of Property Act 1882 is an Indian legislation which regulates the transfer of property in India. It contains specific provisions regarding what constitutes a transfer and the conditions attached to it. It came into force on 1 July 1882.
Land and Buildings Transaction Tax (LBTT) is a property tax in Scotland. It replaced the Stamp Duty Land Tax from 1 April 2015.
Hong Kong insolvency law regulates the position of companies which are in financial distress and are unable to pay or provide for all of their debts or other obligations, and matters ancillary to and arising from financial distress. The law in this area is now primarily governed by the Companies Ordinance and the Companies Rules. Prior to 2012 Cap 32 was called the Companies Ordinance, but when the Companies Ordinance came into force in 2014, most of the provisions of Cap 32 were repealed except for the provisions relating to insolvency, which were retained and the statute was renamed to reflect its new principal focus.
The Companies Registry is a government department under the Financial Services and the Treasury Bureau of the Government of Hong Kong. Its responsibilities include the registration of Hong Kong companies and non-Hong Kong companies under the Companies Ordinance, open-ended fund companies under the Securities and Futures Ordinance and limited partnership funds under the Limited Partnerships Funds Ordinance. It administers the licensing regime for trust and corporate service providers under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance as well as the licensing regime for money lenders under the Money Lenders Ordinance.
