Transcription of Hong Kong 2017-18 Budget - Tax Facts - Ernst & …
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Hong Kong 2017-18 Budget - Tax Facts - Ernst & …
Salaries TaxCharged on hong kong sourced remuneration inclusive of certain benefits in kind. Housing benefit is one source of relief, and is subject to preferential tax treatment, generally at an equivalent rate of 10% of an employee s non-housing forms of relief include: 60 days exemption rule for both hong kong and foreign employment Days-in-days-out calculation rule for foreign employmentTax rates and allowancesThe tax charge is the lower of:a)the standard rate of 15% applying to net chargeable income before personal allowancesb)the progressive rates applying to net chargeable incomeProgressive rates2017-18 First HK$45,000 atNext HK$45,000 atNext HK$45,000 atOn the remainder at 2%7%12%17%Personal allowances2017-18HK$2016-17HK$Basic allowance Married person s allowance*Child allowance (each)1st to 9th child Year of birth Other yearsDependent parent or grandparent allowance (each)Aged 60 and above Residing with taxpayer Not residing with taxpayerAged 55 to 59 Residing with taxpayer Not residing with taxpayerDependent brother or sister allowance (each) Single parent allowanceDisabled
Title: Hong Kong 2017-18 Budget - Tax Facts Keywords: Hong Kong 2017-18 budget;Hong Kong Budget;Tax Facts;Budget Insights;Budget Created …
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