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LOWTAX
OFFSHORE
HONG
KONG INFORMATION: BUSINESS, TAXATION AND OFFSHORE
This
page has links to more than 50
pages of information about Hong
Kong covering offshore business,
e-commerce, the tax and legal
infrastructure and investment
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Hong
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The
Hong Kong section of tax-news.com's
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Hong
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a thorough description of how
e-commerce operations are enabled
in Hong Kong by the legal regime
and local infrastructure, and
how the offshore tax regime can
best be utilised for e-commerce.
I am a US citizen who formed a HK limited company as my home base for a publishing company. All of the company income comes from the US and the UK directly from distributors. I do not directly sell to bookstores or customers-I let the distributors do all of the legwork. I do not have residence in any one country and move about Asia regularly. The money is usually put directly into my company account in another country where I have established a branch office. I pay myself a (small) salary as the company rep in that other country. Local accountants have advised me on my tax responsibilities in these two Asian countries. I basically pay income tax in the second country (none in HK).
I have been operating under the assumption that my US tax responsibilities are limited to the small salary I am paid. I only own 10% of the HK company shares, and the rest are not claimed by anyone. Whatever extra money there is sits in the company account and I have not taken out any extra over what I am paid in salary.
Is what I am doing illegal in any way? It's not my intention to be breaking any laws, but one strange accountant recently told me that in her opinion my company should technically be paying 30% tax to the US because one distributor is there and HK has not tax treaty. The distributor does not give me any tax forms and says only that they interpret the law differently. I thought that sounded crazy, but I thought it best to get other opinions. Thomas Leary
I closing a transaction in Hong Kong. I live in the USA. We want to assign the transaction/contract to a Hong Kong Corporation that we (US Citizens) ouwn. I understant there is no corporate tax, dividend tax, capital gain tax in Hong. If we leave the money in Hong Kong are we taxed in the US? If we bring monies to the USA, we would tax at the applicable rate. Is this correct???
My supply chain is simple. I buy goods in mainland China to sell them in the EU. Hong Kong is tax friendly and if I appoint a Hong Kong commissionnaire (subsidiary group member) to buy goods on my behalf, I of course have to grant an at arm's length remuneration. What is the usual commission rate (in percentages of value of acquired goods) owed to a Hong Kong based low risk bearing intermediate ? quartz
THe company renders services to the HK Company. Certain portion of the work is done in Singapore and certain portion is done in HK. For the portion done in HK, is the Singapore HOlding company subject to any HK tax? If yes, at what rate? Please advise.
I hold UK passport but resident in Rep of Ireland and make a tax return. I have been offered a post by a Hong Kong company, but my duties will be performed outside Hong Kong. Remuneration will be paid in Hong Kong, how can I minimise income tax both in Hong Kong and Ireland as there is no DTA between Hong Kong and Ireland. Dave
I would like t know if dividend and capital gain in HK are subject to a ta rate or not? I found that In Hong Kong, there is no dividend tax isn't it? corporate rate (16,5%) is applied to company profit (earning)?
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