Hong Kong Tax News

Statements regarding Hong Kong:

  • Hong Kong has maintained its position as the world’s freest economy in 2017 for the 22nd consecutive year.
  • Hong Kong’s regulatory efficiency and openness to global commerce strongly support entrepreneurial activity.
  • Hong Kong is one of the world’s most competitive financial and business hubs.
  • Hong Kong is by far the most significant transit point for exports and imports to and from China.

Some Financials:

  • The overall tax burden equals 14.4 percent of total domestic income, and government spending has amounted to only 18.3 percent of total gross domestic product (GDP) over the past three years.
  • Budget surpluses have averaged two percent, and public debt is equivalent to 0.1 percent of GDP. The average applied tariff rate is zero percent.
  • For incorporating a Hong Kong firm, the fees of doing so will be increased by 2,000HK$ starting 1st April 2017.

 

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