'Measures in place to ensure stamp duty payment'
Housing secretary Winnie Ho said on Thursday that there’ll be sufficient safeguards in place to prevent incoming professionals from evading stamp duty payments if they buy homes here.  Speaking at a press briefing to elaborate on a measure to allow non-local talent to defer their stamp duty payment, Ho said they are required to register with the Inland Revenue Department (IRD) and Land Registry before purchasing a flat.  Ho made clear that if they fail to get permanent residency within nine years of arriving in Hong Kong, the Immigration Department and the IRD will take follow-up action.  "[The professionals] will have to pay the tax within 30 days. They have to pay the tax, otherwise it's a late payment of the tax, and a long delay of late payment will come up with a (fine) ten times the original tax. That's a really strong penalty,” Ho said.  The housing chief explained that the government has provided a two-year buffer period for non-local talent, in addition to the required seven-year residency period, to become permanent residents in the city.