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The Native-speaking English Teacher (NET) Scheme came into operation in Hong Kong in 1998. It is a scheme which allows governmental and government subsidised primary and secondary schools in Hong Kong to employ English teachers from overseas. The aim of the scheme is to provide local students with exposure to authentic English language and to ...
Salaries tax is imposed on any office, employment and pension sourced in Hong Kong. [1] Office basically refers to the holding of office as a director or company secretary of the company resident in Hong Kong. Director's fee is fully taxable in Hong Kong irrespective where the director rendered services in Hong Kong or not. [2]
Income tax rate in Hong Kong is 2% when net taxable income is from 1 to 50,000 Hong Kong dollars, 6% when net taxable income is between 50,001 and 100,000 Hong Kong dollars, 10% when net taxable income is between 100,001 and 150,000 Hong Kong dollars and 14% when net taxable income is between 150,001 and 200,000 Hong Kong dollars.
After this is calculated, the amount is deducted from an individual's net pay on a regular basis throughout his/her assignment abroad. It is common, that the company deducts a hypothetical liability at the beginning of the year and then undertakes tax reconciliation at the end of the year.
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The Direct Subsidy Scheme (DSS) is instituted by the Education Bureau of Hong Kong to enhance the quality of private schools at the primary and secondary levels. [1] The Hong Kong government has been encouraging non-government secondary schools which have attained a sufficiently high educational standard to join the DSS by providing subsidies to enhance the quality of private school education ...
Hong Kong and Macau tax corporate income on the basis of territoriality -- only income from the domestic territory is taxed. [2]: 133 Resource taxes. This consists of Resource Tax and Urban and Township Land Use Tax. These taxes are applicable to the exploiters engaged in natural resource exploitation or to the users of urban and township land.
Members of occupational retirement schemes with specific exemptions, and foreign citizens who work in Hong Kong for periods shorter than 13 months or who are covered by another country's retirement system may also be exempt. [4] Under the scheme, the choice of MPF provider is the province of the employer, with employees having no say. [3]