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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 ...
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.
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]
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]
Semi-monthly — 18.0% — Twenty-four pay periods per year with two pay dates per month. Compensation is commonly paid on either the 1st and the 15th day of the month or the 15th and the last day of the month and consists of 86.67 hours per pay period. Monthly — 4.4% — Twelve pay periods per year with a monthly payment date.
After seven consecutive years of budget surplus, the Hong Kong Government held a record HK$579 billion in reserve during the 2011 financial year. [4] Under pressure to use the money to do more for the elderly and the poor, Financial Secretary John Tsang announced in the 2011–2012 budget on 23 February 2011 a scheme modelled from the 2008–2009 financial year, whereby HK$6,000 were to be ...
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 ...
The Minimum Wage Ordinance Cap. 608 is an ordinance enacted by the Legislative Council of Hong Kong to introduce a minimum wage in Hong Kong in July 2010. [2] The executive branch proposed a minimum wage of HK$28 (~US$3.61) per hour in November 2010, which the Legislative Council voted to accept after much debate in January 2011.