According to a report in the South China Morning Post, the Hong Kong authorities may soon begin collecting salary tax every month as opposed to collecting lump sums at the end of each financial year.
The Commissioner for Inland Revenue, Alice Lau, announced her support for the proposed measure, which would limit the number of expatriate workers leaving the SAR without paying taxes, a problem which has cost Hong Kong over HK$213 million ($27.3 million) over the last four years.
'Many overseas countries have been using this system,' Ms Lau said recently on a government radio program. 'The advantage is that you do not need to budget a large sum of money to pay tax at the end of the year.'
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment