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Taxes in HK - 1st few months of work here

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ORIGINAL POST
Posted by mayita 19 yrs ago
Hello,

arrived and started working in HK a couple of months ago.

What do i have to do (and when) to comply with the local Tax Authorities regulations..

I'm but a mere employee... and have a savings account with HSBC.

thanks in advance

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COMMENTS
alibullock 19 yrs ago
You pay the tax at the end of the year and then advance it for teh following year at the same time. Its around 10% and your "13 month" should cover it. That is roughly how it works.


There are tax alloances that you get, so do look into those as they are well worth noting. No point in paying more than you should!


ali

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dasia 19 yrs ago
Your HR department or payroll section should advise the Tax Dept about your commencement with the Company. You will then receive something from the tax people.


The 13th month salary mentioned in the post above may not apply to you. The company I work with do not pay a 13th month so you should be prepared to put away some $$'s each month to accrue for your tax. Many Westerner's get caught at tax payment time (sometime in January and then provisional tax in April) and are forced to get a bank loan.


If you are worried that you have not heard from the Tax Dept speak with your HR or payroll people and they will advise whether or not they have notified the relevant authorities.

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