Taxation in Hong Kong
I've been reading in newspapers that people like myself who run businesses are eagerly awaiting news of a profits tax cut in next week's budget.
Indeed I am, apparently, among those strongly urging the financial secretary to do precisely this.Wednesday, 19 February, 2014, 1:21am 2 comments
Hong Kong collected record-breaking tax revenue of HK$242.2 billion for the 2012/13 fiscal year, thanks to healthy growth in company earnings.3 May 2013 - 5:37am 1 comment
Hong Kong and Canada have signed a treaty to avoid double taxation and increase trade between the two economies.
Currently, income earned by Canadians in Hong Kong who are still deemed residents of Canada is taxable both here and at home.12 Nov 2012 - 4:27am
It may be targeted at property speculators, but a new stamp duty would derail the home-purchase plans of expatriates who are not yet permanent residents.
That was the debate raging online a day after new cooling measures on the property market were announced.28 Oct 2012 - 9:35am 5 comments
When Carmen Lee and her boyfriend bought a home in Tin Shui Wai in March 1997, she never imagined the move would turn into a nightmare.
They bought a 700-square-foot unit for about HK$3.5 million at Cheung Kong's Maywood Court - the fifth phase of Kingswood Villas.29 Jun 2012 - 12:00am
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.5 May 2012 - 12:00am
Hong Kong's tax revenue rose to a record HK$238.3 billion in the 2011-2012 financial year, spurred by profits and wage tax gains.
That was an increase of 14 per cent from the previous record in the preceding year.
The taxman collected HK$118.6 billion in profits tax, up 27 per cent from the year earlier, while wage tax rose 17 per cent to HK$51.8 billion.3 May 2012 - 12:00am
By the evidence of the budgets over the past few years, Hong Kong's strong fiscal position owes nothing to the wisdom of our financial secretary and chief executive. Yet again, John Tsang Chun-wah has produced a budget which is contrary to the principles of sound medium-term fiscal planning and exacerbates Hong Kong's two most pressing problems - the income gap and air pollution.5 Feb 2012 - 12:00am
Chief Executive Donald Tsang Yam-kuen says his government will not lower the tax rate on corporate profits, despite a double-digit rise in tax revenues last year.
His stance runs contrary not only to businessmen's expectations but also one of his own re-election promises, made in 2007.4 Jan 2012 - 12:00am
Property sales in Hong Kong fell by 33 per cent to just 108,504 deals last year as concerns over the economy and government moves to curb speculation soured buyer sentiment, property agents said.2 Jan 2012 - 12:00am
The government and the banking regulator have stepped in again to curb the city's red-hot housing market with one of the toughest combined measures ever.11 Jun 2011 - 12:00am
To allow self-styled fung shui master Tony Chan Chun-chuen extra time to file objection against a HK$330 million tax claim would open the tax system to abuse, a lawyer for the government said yesterday.
Especially as Chan had failed to notify the Inland Revenue about a change of address.26 May 2011 - 12:00am
A lawmaker has questioned the rosy picture painted by new government figures, which shows the number of confirmor deals on flats have more than halved thanks to the special stamp duty.
Confirmors are investors who buy a property and resell it before the transaction is completed.4 May 2011 - 12:00am
Hong Kong's commercial and industrial property markets are expected to remain buoyant after recording rising numbers of sales and transaction values, due mainly to the additional special stamp duty levied on quick resales of residential units.27 Apr 2011 - 12:00am
An influential think tank is calling for a reduction in corporate profits tax as Financial Secretary John Tsang Chun-wah prepares to give his budget address next Wednesday.
The Bauhinia Foundation Research Centre, which is considered aligned with Chief Executive Donald Tsang Yam-kuen, put the idea back on the agenda yesterday.19 Feb 2011 - 12:00am