Some Common Misconceptions About Tax
Mondaq Business Briefing › Hong Kong Law Articles in English (2010)
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Some Common Misconceptions About Tax
Hong Kong has a very lenient system of taxation. The rates are low and tax is charged only on income which has a Hong Kong source. Capital gains are not subject to tax and there is no inheritance tax or estate duty. Very few developed countries offer such a lenient system. There are places which charge no tax whatsoever. Residents of the Bahamas, Turks & Caicos Islands, Monaco and other small island states charge no tax whatsoever but living there is challenging and facilities are limited. In other ...
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