Posted by
gchuva
18 yrs ago
Which country has lower personal income tax rates? Singapore or Hong Kong?
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Oski
18 yrs ago
For people with high earnings, HK tax is lower. HK top rate (Standard Rate) is 16%, (15% for 2008/09). Singapore top rate is 20%.
http://www.ird.gov.hk/eng/tax/ind_tra.htm#st_rate
http://en.wikipedia.org/wiki/Taxation_in_Singapore
However, HK standard rate kicks in quite early (at abit over HKD 100k), whereas Singapore top rate kicks in at SGD 320k. So for people with moderate income, the difference is very small. HK may even be slightly higher in certain ranges.
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