Hi,
I'm a US citizen who will be starting work in Hong Kong in June. I've heard that income below 90K is subject the local 15% tax and above is double taxed; is this right, and is it still the case if I am moving to HK mid-year?
Any advice would be much appreciated.
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am86
14 yrs ago
I think IRS has already revised the cap to adjust inflation. That is, the first $91,500 of your foreign earned income will be excluded from your US taxes. You may also be able to deduction a reasonable amount of expense such as housing from your taxable income. You may want to do some research on the IRS website to get more detailed answer. Hope that help :)
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am86
14 yrs ago
Forgot to mention, for any income exceeds the cap set by IRS will be subject to a 35% tax rate.
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