[IceMan77]

I'm working here in HK as a contractor on a contract that seems a bit odd to me. As of now I am not entirely if I am a contractor or contract employee of the company. If I'm on a monthly salary of 70k/mth with 15 days paid vacation and stat holidays does that make me an employee? My company has given me an option take the salary or to bill them as a corp.

As I understand I will be liable for 17% tax on my salary. In my situation (tax bracket) would it be worthwhile for me to incorporate and bill them as a corp to save on taxes? Are there any other benefits in incorporating (eg expenses)? What types of things can I expense now?

Also, if I worked only a partial month in January (started Jan 11th), what would my expected salary be for January?

Any help would be appreciated.

[discobay]

You could establish your own limited company and claim a fair number of expenses to reduce your tax liability. But you need to take into account the downsides:
you will need to pay employee and employer mpf contributions,
annual company registration fee,
annual tax accountant fee,
annual audit fee,
corporation tax on profits,
keeping all records,
and some other small matters that don't immediately spring to mind.