Flat Tax

Biggest taxpayer forks out HK$79m

Hong Kong's biggest taxpayer handed over HK$79 million in salaries tax last year, while one highly profitable company accounted for 3 per cent of all profits tax generated in the city, official figures show.

Saturday, 5 May, 2012, 12:00am

VAT changes seen as easing burden on firms

The central government is set to launch a trial value-added tax for businesses next year, which is seen as a clear signal the leadership wants to support growth by easing the tax burden on business.

28 Oct 2011 - 12:00am

A tax on mooncakes makes new levies hard to swallow

Last week's hottest topic appeared to be a spontaneous education campaign to raise taxpayers' awareness of their rights. It started when someone, apparently a regular wage earner, complained about the so-called mooncake tax - a tax on company handouts of the traditional delicacy to staff ahead of the Mid-Autumn Festival, which this year falls on September 12.

4 Sep 2011 - 12:00am

NPC puts income tax law reform on hold

Beijing's controversial draft amendment to the personal income tax law has been put on hold by lawmakers on the National People's Congress Standing Committee after their three-day session ended yesterday.

NPC chairman Wu Bangguo said lawmakers raised various comments and suggestions on the draft amendment while agreeing with its overall direction.

23 Apr 2011 - 12:00am

Taxing question

Lawmakers have given preliminary support for proposed profits and salaries tax cuts. Do you back a trade union call to exclude firms earning more than HK$10 million from the reduced profits levy? Write to us.

27 Jun 2008 - 12:00am

For a rainy day?

Month by month, as Hong Kong's financial reserves mount yet further, we wonder whether the government really needs to hoard so much. If not, how should it be spent? In most countries, when a government is flush with cash, it will be under pressure to ensure that any package of tax cuts and additional public spending is more generous to the poorer sections of society than to the rest.

10 Jun 2008 - 12:00am

quiz time

Choose the correct answer

1 How much taxes were collected in Hong Kong last year?

a) HK$150 billion

b) HK$12 trillion

c) HK$88 million

2 Duty free means:

a) the government allows goods to be on sale all year long

b) goods sold to travellers are not taxed

14 Apr 2008 - 12:00am

Public Eye

Porn pictures: the big unanswered question

Try not to laugh too hard over this one: the police say they treat all of us equally. They would have reacted with equal urgency had it been your nude pictures on the internet and not those of our showbiz celebrities. If you believe that, you will believe you, too, can get away with speeding like our tycoons do in their Ferraris.

6 Feb 2008 - 12:00am

Capital gains tax needed to stabilise our property market

The government uses market forces to auction land and get the highest possible price from developers. While we know this has seen the government rake in billions in income during many decades, one by-product is the costly property prices we need to pay.

8 Dec 2007 - 12:00am

UK expats to benefit from tax changes

Under new rules Britons abroad will be subject to a standard 18pc capital gains tax

Recent tax changes in Britain may bring smiles to the faces of British expatriates in Hong Kong with homes in their mother country. But Hong Kong residents living or working in Britain may be less pleased.

24 Oct 2007 - 12:00am

Further tax cut on the table if economy remains strong

There would be a further profits tax cut if the city's economy remained robust and the public finances stayed sound, the chief executive said.

11 Oct 2007 - 12:00am

Economic realities

How should Hong Kong 'facilitate the development of the capitalist economy'? The government's green paper on constitutional development says this is one of the basic principles that must be implemented in the process of attaining universal suffrage. The paper gives examples of what this means by highlighting Chapter V in the Basic Law that refer to the economy.

9 Aug 2007 - 12:00am

Five costly tax mistakes that people make

How to keep taxman happy but ensure you don't pay too much with your return

Someone told me the other day that taxes and interest rates are the pornography of a good financial newspaper.

If that's the case, then brace yourself for a whole lot of sex in the next few paragraphs.

8 Apr 2007 - 12:00am

Tax cuts 'easier in a harmonious society'

Tax cuts are easier to introduce in a harmonious society, Donald Tsang Yam-kuen said yesterday.

Speaking a day after he said he wanted to bring profits tax and the standard salaries tax rate down to 15 per cent, the chief executive insisted the cut would not benefit only high earners.

3 Feb 2007 - 12:00am

Keeping an open mind on a narrow tax base

Treasury officials who are still reeling from the shelved bid by the government to introduce a goods and services tax should find the results of the latest SCMP/TNS Opinions Leaders Survey heartening. Despite widespread opposition to a GST, the poll has found that most opinion leaders agree with the government that our tax base is too narrow.

15 Jan 2007 - 12:00am