Hong Kong: Taxation for Expatriates
Although Hong Kong is not a blissfully tax-free expat destination, like Dubai, for instance, it does have the advantage of boasting fairly low tax rates. Permanent residents and expats alike profit from the favorable Hong Kong income tax as well as a pretty simply tax system. Depending on where you come from, filing your taxes in Hong Kong may turn out to be less of a tedious chore than back home. For example, there are no taxes on interests, dividends, royalties, or capital gains, and VAT or sales tax doesn’t exist, either. Nonetheless, you might want to hire an international tax consultant to help you with your tax return. They will advise you how to benefit from Hong Kong’s generous tax allowances and deductions. With the help of a savvy tax accountant, you can also minimize your tax burden, both in Hong Kong and on a global level. This, in turn, may allow you to put aside some money for your individual pension scheme.