Salaries Tax

Tax receipts show that 2007 was a bumper year for some

One highly profitable company was taxed a record HK$5.91 billion in the last financial year, meaning it alone accounted for more than 5 per cent of profits tax receipts. The top individual taxpayer contributed HK$71 million, according to government data.

Saturday, 9 May, 2009, 12:00am

In Brief

Spending amounts to HK$315b

1 May 2009 - 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

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

At a glance

Salaries tax standard rate lowered by 1 percentage point to 15%

One-off salaries tax rebate of 75%, subject to a ceiling of HK$25,000

Basic personal allowance and single-parent allowance up from HK$100,000 to HK$108,000

Married person's allowance up from HK$200,000 to HK$216,000

Tax bands widened from HK$35,000 to HK$40,000

28 Feb 2008 - 12:00am

Landlord gets HK$1m fine for tax evasion

A Mong Kok landlord was yesterday given a four-month suspended sentence and fined more than HK$1 million for evading property tax over a five-year period.

The fine of HK$1,051,062 imposed on Lam Fuk-wa represented nearly three times the tax he had evaded between 2000 and 2005, according to the Inland Revenue Department.

4 Sep 2007 - 12:00am

HK still needs to stabilise tax revenues, ratings agencies say

Hong Kong's public finances will be more susceptible to shocks without a goods and services tax and its creditworthiness might suffer, analysts warn.

Stabilising tax revenues was vital over the longer term, said Kim Eng Tan, Standard & Poor's ratings services associate director.

6 Dec 2006 - 12:00am

Have Your Say

It's not the time to introduce more taxes

The government has proposed a Goods and Services Tax (GST) but I am strongly against it.

This is not the right time to introduce the GST because Hong Kong's economy has just started to recover.

1 Sep 2006 - 12:00am

The timing is right, says tax chief

It is an appropriate time to study whether to introduce a goods and services tax to broaden Hong Kong's tax base, as the city is enjoying strong economic growth, a taxation expert said yesterday.

17 Jul 2006 - 12:00am

Land-sales reform might do away with need for GST

Much play has been made in the media and by members of the legislative and executive councils about the 'need' to widen the tax base to avoid alleged long-term structural deficits.

2 Mar 2006 - 12:00am

HK's top taxpayer hands over $22 million

That figure means someone earned about $400,000 every day, including holidays

Hong Kong's top earner gave the taxman $22 million last financial year, less than half the amount handed over by the highest-earning person in the previous year, the government said yesterday.

3 Apr 2004 - 12:00am

Film director sued for salaries tax

Film director Ann Hui On-wah is being sued by the Inland Revenue Department for outstanding salaries tax of $62,982, a District Court writ says.

18 Apr 2001 - 12:00am

SAR's top salary earner foots $41 million tax bill

Hong Kong's top earner made $25 million a month and paid $41 million in salaries tax for the past financial year - more than the combined tax paid by the next top three earners, according to figures released yesterday.

3 Apr 2001 - 12:00am

IRD data says rich are paying less tax

The latest annual report from the Inland Revenue Department (IRD) shows a decreasing proportion of salaries tax is being shouldered by the highest paid strata of society.

The Annual Report for the Year of Assessment 1998-1999, due to be released this week, also shows total revenue from salaries tax dropped by more than HK$4 billion.

7 Jan 2001 - 12:00am

Department meeting performance pledge

I refer to the letter headlined, 'Three-year wait tempts tax dodgers' from 'Name and Address Supplied' (South China Morning Post, November 24).

6 Dec 2000 - 12:00am

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