Hong kong taxation for over 11 years, unitrust capital corp provides quality competitively-priced tax-free hong kong company formation services hong kong companies do not pay taxes on offshore activities, ie on company's operations outside of hong kong. About us we are a tax consultancy with a sole purpose of providing excellence advice relating to income tax, value added tax, pay as you earn & capital gains tax. A q&a guide to tax on corporate transactions in hong kong this q&a provides a high level overview of tax in hong kong and looks at key practical issues including, for example, the main taxes, reliefs and structures used in share and asset sales, dividends, mergers, joint ventures, reorganisations, share buybacks, private equity deals and restructuring and insolvency. About worldtax is a unique tax knowledge centre which is available to everyone and absolutely free of charge the worldtax team, along with all of our community members, is working tirelessly in keeping the content up-to-date and sharing with visitors the latest trends in the tax world.
Hong kong tax services and business advisory what can we help as a tax advisor pkf hong kong professional tax advisors provide comprehensive tax and business advisory services in respect of the hong kong tax regime. Import tariffs hong kong hong kong is a free port that does not levy a customs tariff the hong kong government levies excise duties on four commodities: hard alcohol (distilled spirits), tobacco, hydrocarbon oil, and methyl alcohol. Check out senior tax manager profiles, job listings & salaries review & learn skills to be a senior tax manager.
Tax system updated on october 2018 hong kong tax system is quite simple, hong kong ranks no 1 in the heritage foundation 2015 for economic business freedom your company is offshore: if you don’t do business in and from hong kong, as example if your suppliers are in china and your clients in europe, if you don’t have a permanent office (other than your hk registered address) and a team. As hong kong sar’s tax system is territorially based, tax is not levied on the basis of a company’s residence and therefore, there is no need for a statutory definition of the term. Income tax, or salary tax as it is known here, is set at 2% for those earning less than hk$40,000 a year beyond that, it's 7% for hk$40,000-hk$80,000, 12% for hk$80,000-hk$120,000 and then a top rate of 17% for anything exceeding that. Hong kong has one of the lowest tax rates in asia and in the world only local salaries, business profits and property are taxed. Hong kong corporate tax compliance & consulting profits tax is payable by every company carrying on a trade, profession or business in hong kong on profits arising in or derived from hong kong from that trade, profession or business.
Unless provided for under a double tax agreement, no credit is given in hong kong for foreign taxes paid, but in certain circumstances, foreign taxes paid may be deductible for profits tax purposes under the tax code of hong kong. Hk china business registration:provide offshore company formation advice,corporate tax planning consultation,open offshore bank account,virtual office setup service. Tax tips for americans living in hong kong if you have us tax filing obligations and live in hong kong, check out these tax tips. Doing business in hong kong introduction hong kong is situated at the south-eastern tip of the mainland of china, covering approximately 1,100 square kilometres the territory includes hong kong island, kowloon, and the new territories, as well as 235 outlying islands a former british colony, hong kong reverted to the chinese government on 1 july 1997. Employer’s tax return besides filing a profit tax return every year, a hong kong company should file an employer's return of remuneration and pension every year with year end of march 31, to report staffs' salaries.
Q1 what items are taxable on import into the hong kong special administrative region (hksar) and what items are subject to export tax a1: in general, imports into hksar are tax-free except. Introduction salaries tax, profits tax and property tax are the only 3 income taxes imposed in hong kong this section focus on only the property tax involved when an individual or a body incorporate owning a property, for the other fee and duty involved, we are going to talk about it here. Using adp’s hong kong tax services saves you time, allowing you to concentrate on core goals, objectives, and other strategic areas of your business. Hong kong tax income that arises in or is derived from hong kong via employment, office or pension are subject to hong kong salaries tax services rendered in hong kong for visits longer than 60 days in any fiscal year are subject to salaries tax, even if the individual is not ordinarily resident in hong kong.
If you get income from any source in hong kong, you’re likely to have to declare it to the hong kong tax authorities and pay tax on it the approach to calculating tax in hong kong is a little different to that taken in much of europe, so it’s important to understand your duties. Hong kong salaries tax in hong kong, personal tax is often referred to as salary tax both corporate and personal tax rates of hong kong are considered as one of the lowest in the world. Tax and regulatory conference 2018 morning session : 9:30 – 12:30 1 hong kong tax update this session covers the tax update for the period from 1 april 2017 to 30 september 2018 with respect to amendments to. Hong kong tax alert hong kong tax alert is produced as a client service by ey it is intended to serve as a guide only to alert readers to emerging issues and issues of topical interest.
Note: the maximum tax is subject to the 15% standard rate for income without personal deductions and credits corporate tax: hong kong corporate tax rate for 2017 is 165% unincorporated businesses pay a lower corporate tax rate of 15% capital gains: there is no capital gain tax for both companies and individuals dividend income and interest income derived from deposits are tax exempt too. Calculate your taxes in hong kong with our free and easy-to-use tax calculator. At kpmg, we lead the way in tax technical excellence, quality and integrity at kpmg, we lead the way in tax technical excellence, quality and integrity at kpmg, we lead the way in tax technical excellence, quality and integrity with our in-depth knowledge of hong kong sar tax laws and practice.