Admin According to the Hong Kong Taxation Ordinance, anyone in Hong Kong: Generate income from business or trading business Whose business or trader’s assessable income is derived from Hong Kong must pay profits tax. Regarding the first point above to determine whether the person is engaged in a business or a trading business, the Hong Kong … Read more
If the taxpayer wishes to choose personal income tax, he/she must make my choice in writing and no later than: • two years after the year for personal assessment; or •the assessment of income or gains has become the final and decisive assessment; or •limit agreed by the Hong Kong Taxation Commissioner of Taxation in … Read more
Taxpayers who hold a Hong Kong identity card but are not usually resident in Hong Kong or are not a temporary resident and are not eligible to apply for personal assessment. The definition of a temporary resident in the Hong Kong tax legislation means that the taxpayer stays in Hong Kong for more than 180 … Read more
Self-employed persons are required to pay profits tax on their business income, while employees are required to pay salaries tax on their employment income. Very often taxpayers are not sure whether their role is self-employed or employee. They report their income and expenses in the profits tax part of their tax returns because of the … Read more
Hello, everyone! Recently we have received a lot of questions about taxation and feel that it is necessary to write an article to provide to you some practical tax knowledge. We are committed to studying Hong Kong tax regulations and rules. Starting today, we will explain the different parts of Hong Kong’s taxation system from … Read more