These are the progressive tax rates in Hong Kong. The standard (fixed) tax rate here is 15%.
If your net chargeable income is 125,000 HKD (16,000 USD) per year, this is how you would calculate your taxes:
First Bracket: 50,000 - 2% = 1,000 HKD (130 USD)
Second Bracket: 50,000 - 6% = 3,000 HKD (380 USD)
Third Bracket: 25,000 - 10% = 2,500 HKD (320 USD)
Payable Taxes: 1,000 + 3,000 + 2,500 = 6,500 HKD (830 USD)
To find out how much salaries tax you will approximately have to pay in Hong Kong, check out the online tax calculator for your relevant assessment year under the section “Tax Computation.”
Once you make the calculations, you can file your tax returns online or by post.
Property Tax in Hong Kong
If you own property in Hong Kong and have income from renting said property, you need to tax the rental income. To learn more about your tax obligations as a property owner in Hong Kong, check the government's site on Property Tax.
Self-Employment Tax in Hong Kong
Self-employment is taxable, too, and, as you can only be self-employed if you set up your own business, it is treated as Profit Tax. Self-employment is defined as “buying and selling of goods” or “providing professional or personal services”. In this case, you are charged profits tax based on the assessable profits of your proprietorship or partnership. Furthermore, there are some other obligations concerning, for example, accounting standards. Profit taxes are also applied to corporations and trustees.
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