RMB Counter Stamp Duty Ordinance Gazetted; Commencement Date Still Pending

Hong Kong’s Stamp Duty (Amendment) (No. 2) Ordinance 2026 (Ordinance No. 5 of 2026) was published in the Gazette on 17 July 2026. It provides the legal framework for calculating and paying, in Renminbi (RMB), the stamp duty arising from transactions of dual-counter stocks conducted at the RMB counter.

Under the arrangement, investors will be able to settle both an RMB-counter securities trade and its associated stamp duty in RMB at the same counter. This may reduce the need to arrange Hong Kong dollar funding solely for the stamp duty component and may simplify settlement and cash-flow planning for investors, brokers and treasury teams involved in RMB-counter transactions.

Gazettal does not mean the arrangement is already operational. The Ordinance provides that the new arrangement will commence on a day appointed separately by the Secretary for Financial Services and the Treasury by notice published in the Gazette. The separate commencement date is intended to allow Hong Kong Exchanges and Clearing Limited, the industry and relevant government departments to complete their system preparations.

Until that commencement notice is published, businesses and investors should not treat RMB payment of the relevant stamp duty as available for live operations. Relevant teams may nevertheless prepare by reviewing settlement instructions, cash-management arrangements, accounting treatment, system configuration, reconciliations and internal controls.

Practical checklist:

• monitor the Gazette and official implementation announcements for the commencement date;
• confirm readiness with brokers, custodians, banks and other service providers;
• update accounting, treasury and settlement procedures only against confirmed implementation details; and
• retain evidence of testing, approvals and control changes before go-live.

This article is for general information only and does not constitute legal, tax, accounting or investment advice. Applicability should be assessed against the final commencement notice, implementation details and the circumstances of each transaction.

Sources:

• Inland Revenue Department — Amendments to Stamp Duty Ordinance: https://www.ird.gov.hk/eng/ppr/sdo.htm
• Gazette copy of the Ordinance: https://www.ird.gov.hk/eng/pdf/sdo/gazette/StampDuty(Amendment)(No.2)Ordinance_Eng.pdf
• Original Government release: https://www.ird.gov.hk/eng/ppr/archives/26070804.htm