16 Sept 1996
GUOJI TRANSPORT CO LTD v. THE COLLECTOR OF STAMP REVENUE
- Citation
- GUOJI TRANSPORT CO LTD v. THE COLLECTOR OF STAMP REVENUE
- Court
- District Court
- Case number
- DCSA30/1995
The agreement constituted a lease because it granted exclusive possession of specific units, imposed obligations and liabilities consistent with a tenancy, involved substantial consideration tied to occupation and investment, and satisfied the certainty requirement because the maximum duration was limited by Guoji's leasehold interest; accordingly the agreement was chargeable to stamp duty under Head 1(2)(a) on the stated consideration of HK$11,033,561.83 producing duty of HK$303,424.