Hello,
Here is my current situation:
- I am an Indian citizen, lived in the US for the last 10 years and DONOT have the Green Card / citizenship
- I moved to Hong Kong six months ago for an assignment with one of our subsidiaries; that was supposed to last for one year
- I am single and as part of my package - to make things simpler (and repatriation easier) we just translated my US salary into HK$; added some cost of living adjustment; and I pay my own rent
- Now my company would like to extend the current assignment for 2 more years with more senior position, requiring significant travel outside HK and we are renegotiating the package
In light of the above, I have few questions:
1) I guess I dont have to pay any tax in the US (since no GC & citizen) and my tax in HK will be approx. 16% of all my gross income, correct? Since I have signed my own lease and pay my own rent for my serviced apartment, any adjustments of the rent to my taxable income??
2) During my move to Hong Kong; part of my relocation expense was paid to me in HK - is it taxable income?
3) If I renegotiate my package and ask my company to provide my housing, how it will affect my local taxes?
4) If I spend only 5 months/yr in HK but collect all of my salary in HK - do I have to pay full taxes?
5) Is it common practise to have dental insurance as part of the package?
6) Any guess on the approximate cost of living adjustment between a Tier 2 city in the US and HK; with and without rent option??
Thanks folks- this site rocks.
