Hong Kong
Taxation in Hong Kong
Recent forum posts
-
What should authors look for when choosing professional ghostwriters for hire?
Handling your ideas with someone else can feel risky so choosing the writer matters more than most authors expect. Start by reading samples of the writer’s work. A strong writer can change voices of forcing one style onto every project. Clear communication matters, because the best collaborations begin with interviews and regular check‑ins. Experience in your genre also matters, since a busi
Total Posts: 1 Last post by jessicamartinez
-
HOW TO HIRE A HACKER TO RECOVER STOLEN BITCOIN. CONNECT WITH BRUNOEQUICKHACK
As the world of crypt0currency continues to evolve, the risk of falling victim to scams and fraudulent activities also increases. Unfortunately, I recently found myself in this predicament, having lost a significant amount of cryptocurrency to scammers. The experience was not only financially devastating but also emotionally taxing.However, I was fortunate enough to come across Brunoe Quick Hack
Total Posts: 1 Last post by Shane Missler
Taxation in Hong Kong
Hong Kong has a simple tax system that is appealing to foreign investors as it is very business-friendly. There are three main taxes which are imposed: profits, salaries and property.
Income Tax
Salaries tax is charged on all income earned in Hong Kong. You are eligible if you spend at least 60 days each fiscal year in Hong Kong.
The first HK$100,000 (or US$12,850) earned is tax free. There are allowances offered, including those for charitable donations, mortgage interest, parents of children and donations to the Mandatory Provident Fund (MPF). Those people who work within and outside Hong Kong, and who have paid overseas tax, may have this section of salary exempted from their salaries tax in Hong Kong.
The standard tax rate is 15%. Over and above the first tax-free HK$100,000, the progressive tax rate increases from 2% to a maximum 17%. The 17% is applicable to taxable income exceeding HK$105,000.
40,001 – 80,000 7 %
80,001 – 120,000 12 %
120,001 or above 17 %
Corporate Tax
Those who conduct business in Hong Kong, whether it be those operating companies, those in business partnerships, or individuals, are liable for profits tax, if the business has been carried out in Hong Kong. The maximum tax rate for corporations is 16.5% and 15% for unincorporated businesses.
Deductible items:
any expenses incurred in the production of profits
losses of the company
capital allowances on capital spending (varying between 4%-20%) and plant and machinery, up to an immediate write off of 100%
registration fees for patents/trademarks
contributions to an employee retirement scheme scientific research costs
Exempt items:
interest income, and dividends received from corporations capital gains