Asia’s property taxes are covert capital controls

February 25, 2013

Hong Kong has hiked real-estate stamp duty in the latest effort by Asian city-states to cool demand. But local first-time buyers are exempt. As long as low rates push investors to seek hard assets in safe havens, pressure to discriminate against foreign speculators will increase.

UK would gain from homeowner tax switch

March 8, 2013

Homeowners are a tempting target for cash-strapped UK tax collectors. One option is to levy “mansion taxes”; another is to milk existing stamp duties. It would be better to forget the first, scrap the second and close the capital gains tax loophole on residential property.