US and HK Taxes???

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  1. #1

    US and HK Taxes???

    In mainland China, US citizens must pay both US AND Chinese income tax. I heard somewhere that Hong Kong is one of the few places in the world that does not have a tax agreement with the US. Does that mean that I, being a US citizen, do not have to pay foreign income tax to the US if I worked in Hong Kong?


  2. #2

    Join Date
    Dec 2003
    Location
    CausewayBay, Hong Kong
    Posts
    179

    I dont think that is correct, all US citizen have to report to the US IRS annually,
    if you income is more than 70K USD per year, then there will tax liabilities. This is my understanding.

    Kervin


  3. #3

  4. #4

    Join Date
    Jan 2003
    Location
    Shatin
    Posts
    122

    As Kervin says, if you earn over the minimum you need to pay no matter where ti money comes from. As there are so many things that can be deducted normally the payment is very little if you have good tax advice.

    You will need to fill in a return you tax returns as normal to the IRS. I know most people do not fill their returns in themselves so if you need the name of a good tax attorney in Hong Kong who can help you with this drop me a PM.