[marco69]

Hi folks,
I will be move shortly to HK which I have no idea AT ALL.
I am very concern about the tax as based on this I can negotiate with my company for my salary.
pls advice me how's the mechanism about the tax; let's say salary USD. 4000.- how much we should pay the tax ? my office will be around Wan Chai area, how much I should pay monthly for 2-3 bed room apartment in this areas or surrounding ?
thanks

[KnowItAll]

Apartment costs: http://www.gohome.com.hk do keep in mind Wanchai like many places is accessible by the MTR so you could stay in a large number of places.

Taxes: http://www.info.gov.hk/ird/eng/ese/ind_stc.htm

[marco69]

Hi,
Thank alot indeed, the web for apartment is fair enough for me to search (even like fishing in the dead sea), but the calculating about tax is really out of my mind, it's so complicated, is that anybody can advice me let's say salary USD. 4000.- then how much tax we should pay, or USD. 5000.-
Regards,

[KnowItAll]

http://www.info.gov.hk/ird/eng/ese/stcfrm.htm is a simple form. Humor us and try it.

[marco69]

thanks for your reply, but how am I put the figures of ; approved charitable donations, self education expenses, also elderly residental care expenses, plus retirement schemes ??
regards

[KnowItAll]

Paul, the voluntary MPF schemes are not tax free.

http://www.financeasia.com/assets/PA...ne/Q&A_Tam.pdf

the mandatory
contribution is tax deductible by both
employers and employees, the investment
income is exempt and the payout is taxfree.
The voluntary contribution is not tax
deductible as far as the employee is
concerned, but it’s tax free during the
accumulation stage, and if the duration of
that accumulation meets a 10-year rule
before you redeem, it it’s tax free. There’s
no maximum sum for voluntary
contributions. The tax rate in Hong Kong
is among the lowest in the world, so the
government doesn’t want to further
complicate the tax system.

At the US$5K range your taxes will be fairly negligible. Try and get your employer to put an agreement which has a housing allowance component. I'll assume they have a competant accountant locally who can do the paper work to 'monitor it'.

Here's a good resource for someone in your HR department to help you with your contract.

http://www.gthk.com.hk/cgi-bin/cms/u...Tax-issue2.pdf

Get the paper work right and your housing allowance will be 90% tax free. The 90% amount may have changed a bit since the last time I checked.

[notebookone]

Does anyone know how profits from stock sales and dividends are taxed in HK? Let's say I open a brokerage account and make some money. Is that taxed at regular income or at all? Thanks for your help!

[PDLM]

It isn't subject to HK tax.

If you are a US Citizen then I guess the IRS might want some of it.