CAN I CLAIM OVERSEAS INSURANCE FOR A HONG KONG EMPLOYEE?

QUESTION 1: My company in the UK paid a medical plan for a Hong Kong Employee, does it help to claim deductions on tax purpose under a Hong Kong Limited Company? ANSWER 1: No, insurance plan in the UK is not a deductible expense under Hong Kong Profit Tax. Firstly, the expense is not paying …

我可以为香港雇员申请海外保险吗?

问题1: 我英国的公司为在香港的雇员支付医疗保险,这是否能放在香港公司的税收扣减额里?   回答1: 不可以,英国的医疗保险不是香港利得税可扣减的费用。首先,费用不是出于贸易目的而支付的,其次,很难解释英国医疗保险与香港产生的利润之间的关系。   问题2: 我[…]

如何计算香港的薪俸税

为了吸引全球的投资和海外人才到香港,香港不仅为公司和企业家提供了有吸引力的税收制度,还针对香港薪俸税的个人所得税的低税率方案,相应地,薪俸税也指个人所得税。   首先,什么是评估年? 香港将课税年度定为次年的4月1日至第二年的3月31日。例如,2020年4月1[…]

HOW TO CALCULATE SALARY TAX IN HONG KONG

In order to attract global investment and expat genius to Hong Kong. Hong Kong not only offers an attractive tax regime for corporation and entrepreneurs.  Moreover, it also has a competitive low taxation scheme for personal income tax on Hong Kong Salary tax. Correspondingly, salaries Tax referred to Personal Income Tax as well. Firstly, what …

BUDGET 2021-2022 – PROPERTY RATES CONCESSION

Budget 2021-2022 announced to provide rates waiver for both domestic property and non-domestic property. Each domestic property for all 4 quarters of 2021-22. Subject to a ceiling of HKD 1,500 per quarter in the first 2 quarters and HKD 1,000 per quarter in remaining 2 quarter. While each non-domestic property, subject to a ceiling of …

BANK OF CHINA – IGTB PLATFORM UPGRADE TO PAPERLESS

IGTB platform upgrade and go Paperless Era Bank of China recently announced that they are upgrading their online commercial accounts. It mentioned IGTB online account users are not going to receive any paper customer advice soon. Bank of China will start not mailing out their monthly statements from 3rd May 2021. The act is in …

HOW TO GET PAYPAL STATEMENT FOR ACCOUNTING RECORDS

PayPal offers a faster, more secure way to pay online. It serves as an electronic alternative to traditional banks. Many e-commerce providers uses Paypal as one of the payment solutions.  In order to ensure each transaction details are booked properly for your accounting and auditing, you are also required to download the Paypal statement each month. …

HOW TO ISSUE INVOICE FROM YOUR MOBILE PHONE

Xero accounting software helps make your sales and invoice process easy to manage. Even to issue invoice to your clients from your mobile phone and getting paid is a fast and seamless process. We are going to show you how to issue an invoice to your client from your mobile phone 1.Download “XERO” from App …

What does it say on my smart Hong Kong Identity Card?

Since 26 November 2018, a new form of smart Hong Kong Identity Card will be issued to replace the existing smart identity card. The new version of identity card has improved in its durability, security features as well as the chip technology and protection of personal data. Inspection of Proof of Identity. All Hong Kong residents …