Income Tax in HK

Walking Chopsticks

Member

Member since 21 May 2015

Walking Chopsticks

26 May 2015 14:10:13

Walking Chopsticks

26 May 2015 14:10:13

Hi, can someone advise how different is the income tax between HK and Spore?

I'm looking to relocate and need to understand the tax impact. If I relocate, I assume I still have to continue to pay outstanding tax in Spore for 2014 & whatever remaining period of 2015 that I'm earning in Spore. But may I know what about HK tax? Does HK also practise tax instalment like Spore? Do they deduct directly from pay or must pay as a lump sum?

Thanks
W.S

mars2012hk

Serial expat

Member since 14 August 2013

Hong Kong

mars2012hk

26 May 2015 14:15:56

501

mars2012hk

26 May 2015 14:15:56

501

Hong Kong

Hi
HK - like Sin - uses a territory rule to determine taxable revenues. You declare them to the government in May-June, they determine the amount by Oct and you pay by Jan-Feb... for the following year in advance!
Meaning that the first year they will leave you alone but at the beginning of the second fiscal year you will have to pay two full years (the period that just passed plus the forthcoming year in advance)