Blog > Archive by category 'Personal Tax'

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Personal Tax

US tax snoops zero in on Hong Kong? Let’s be realistic.

September 28, 2009

Nick Westra’s article in this week’s Sunday Morning Post (September 27th, 2009) must have pleased the IRS.  If anything is going to raise concern amongst US citizens living in Hong Kong it is exactly this type of suggestion that a foreign authority will have unrestricted access to information.  The article appears to ignore the fact [...]

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Expat trapped in Hong Kong

September 25, 2009

Is it time for Hong Kong to overhaul its tax collection methods? Multi million dollar losses suggest it is.

The article, ‘Expat Trapped in Hong Kong over unpaid tax bill’ that appeared in last week’s issue of The Sunday Morning Post highlighted an interesting problem for the Hong Kong Inland Revenue Department.
The piece tells the story [...]

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Pension Contributions

August 26, 2009

This is not so much a rant but an expression of support for the Government’s consideration as to whether the tax thresholds for deductibility with regard to funding individuals’ MPF contributions should be increased.

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Hong Kong Confirms Need for Trust Law Reform

August 19, 2009

Consultation with industry and trust professionals will play a key part.
Contributor: Matthew Corbin
Hong Kong has not substantially revised its trust law since 1937 and as such the current legislation is now extremely dated and limited in scope when compared to many other competing offshore jurisdictions.
To urge the HKSAR Government to reform trust law, The [...]

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Meet Deadlines to Avoid Penalties

July 21, 2009

The Inland Revenue Department (“the Department”) appears to have become so frustrated with delinquent taxpayers and those that persistently miss tax filing deadlines that it has resorted to issuing a standard letter advising taxpayers that for such offences the Department is allowed to raise penalties of up to 3 times the amount of unpaid tax [...]

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A plea to the Honourable Mr John Tsang

February 20, 2009

A great deal of press coverage has been given to the impact of the current financial tsunami on major corporations, financial institutions etc but little to the plight and hardship felt by small and medium sized businesses. With the tightening of credit lines many SME’s are struggling each month to meet even their staff salary [...]

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