Stamp duty of commercial contracts (SPA of oil & gas product) in Hong Kong & Labuan?

Hong Kong

https://www.gov.hk/en/residents/taxes/stamp/documents_for_stamping.htm

https://www.ird.gov.hk/eng/tax/sdu.htm#16

Ø Based on Hong Kong government and their Inland Revenue Department websites, Hong Kong does not impose stamp duty on commercial oil and gas contracts. Stamp duty in Hong Kong is mainly levied on certain types of documents, such as property-related documents (i.e. property sale agreements, leases), and financial instruments (i.e. stock transfers).

Labuan

https://www.labuanfsa.gov.my/general-info/featured-articles/direct-taxes-and-indirect-taxes-a-comparison-between-entities-in-malaysia-and-labuan

Ø Based on Labuan government’s website and For Labuan entities, an exemption order known as the Stamp Duty (Exemption) (No. 3) Order 2012 (Stamp Order) PUA 268/2012 is in force which exempts all instruments executed by a Labuan entity in connection with a Labuan business activity from stamp duty. In addition, under the Stamp Order, all instruments of transfer of shares in a Labuan entity, as well as the constituent documents for the establishment of a Labuan entity, are exempted from stamp duty.

Ø PUA 268/2021 – Appendix A1.

Ø LHDN Letter to the Bar – Appendix A2.

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