What time of year must expats pay Hong Kong income tax? Do you receive a huge tax bill at one time each year? What percentage of one's annual salary is it? In addition, is housing allowance that is not paid as part of salary, but direcly to flat owner by company, considered taxable income?
>> In addition, is housing allowance that is not paid as part of salary, but direcly to flat owner by company, considered taxable income?
Not anymore. The allowance has to be documented on your contract and your company needs to monitor and manage it. i.e. They should have the receipts from your landlord on file ...
Well, yes and no. It is considered taxable income, but not necessarily at the actual price paid. This has been discussed ad nauseam in these forums - please do a search and you will find the relevant links.
31st of March is the end of fiscal year in HK. Around end of April-beginning of May you should have received your tax form. You have one month time to fill and send in the forms. Usually the deadline for paying taxes is end of January next year (for the first installment) and April (for the second installment).
