Hi shantalie. Thank you very much for your answer! Sounds like a good deal to me:) I am a Spanish citizen.... I understand correctly
That you pay taxes yearly right, opposed from monthly like in the uk?
Thanks
Thank you Shantalie!
Sounds like a good deal to me :) I am a spanish citizen btw.....if I understand correctly you pay tax once yearly opposed to the UK for example?
Correct - you pay annually by doing a personal tax return. No PAYE so you have to get in to the habit of saving up your tax money as you go through the year. Otherwise you can have a nasty surprise when you get the bill.
You will be taxed 2 percent on the 1st 40,000 and then 7 percent on the next 20,000. This will add up around 2,200 per month.
Where are you from? You should investigate whether there is a double taxation agreement that is in place between your home country and Hong Kong.
For more information read the Banking, Money and Taxes in Hong Kong page.