US Tax in Hong Kong
Visit us:- http://www.htj.tax/us-tax-irs-hong-kong/
As an American citizen or say green card holder working in Hong Kong to lead a standard lifestyle, taking care of your tax-paying responsibilities can be a complicated task.
However, countries like Hong Kong provide certain tax advantages to their tax payers, including a tax regime, an opportunity to earn tax-free profits and the best among all are- low taxation rates for specified companies engaging in the business world.
As an ideal destination for businesses as well as potential entrepreneurs who are looking for a tax-friendly country, US tax in Hong Kong is an exceptional choice. However, in comparison to any other country, Hong Kong operates a simple taxation system.
There are no separate capital gains taxes, sales taxes, and withholding taxes on dividends like in other countries. Noted that the taxation process in Hong Kong doesn’t consider the taxpayer’s residency status, but based on the territorial source principle.
Visit us:- http://www.htj.tax/us-tax-irs-hong-kong/
Features of US Tax in Hong Kong System
Low taxation rate
Easier tax administration
Territorial source concept
Visit us:- http://www.htj.tax/us-tax-irs-hong-kong/
Low taxation rate- In the world, Hong Kong is the only country which charge approx 16.5% profit tax rate which is till date one f the lowest tax charging rate in the world.
Easier tax administration-There is no denying in saying that the tax administration of Hong Kong is simple. There are mainly three types of direct taxes imposed in Hong Kong- Property tax, profit tax, and salary tax. Moreover, Hong Kong doesn’t charge for turnover tax, i.e. VAT or goods and service tax, which is mostly charged in many other developed countries.
Territorial source concept- Hong Kong taxation system is based on territorial sources instead of the residency concept. Unlike other countries like United States, China, and Canada, which impose a tax on their tax residents on worldwide income, Hong Kong has a simple taxation system in which only those income are taxable which arise or generate in ‘Hong Kong’ itself.
Visit us:- http://www.htj.tax/us-tax-irs-hong-kong/
Contact Us
Address:-
1103-5 Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong
Postal code: 518023
HK: +852 8172 1040