Seeking Advice regarding Hong Kong Taxes

[Littleladyspeak]

Dear All,

My partner has been quoted a much higher than expected amount to pay for his Hong Kong taxes - this was via his company's HR and the help the IRD's tax calculator. Before filing, he would like to ensure he is paying the least possible amount, considering all variables.

Does anyone have any advice of what to consider or reference for a tax person that provide assistance.

Thanks.

[shri]

If you have got the tax bill - drop IRD a line and ask them how its been calculated.

Usually spot on... 25 years later have never had a mistake from their end as the calculation is usually very very simple.

Is this your first tax bill?

[shafiq]

Dear All,

My partner has been quoted a much higher than expected amount to pay for his Hong Kong taxes - this was via his company's HR and the help the IRD's tax calculator. Before filing, he would like to ensure he is paying the least possible amount, considering all variables.

Does anyone have any advice of what to consider or reference for a tax person that provide assistance.

Thanks.

Is it the provisional tax very high?

[Rooster]

Yes, if it is your first time paying I believe you will get a huge bill including provisional tax for next year. It it shocking at first but normal here.

[MandM!]

Likely there will be a discount but you pay next years provisional at the higher estimated rate.

If you assume next year you will owe less then you can apply for holding over of the provisional. But what you owe is what you owe. I think people don't figure you need to pay two years taxes in the first year but you do. Minus a discount.

[HK_Katherine]

Did you fill in your own tax return or leave it to the company HR dept? I would always do the former. It takes about 10 minutes, is simple as hell, and ensures that some idiot in HK doesn't make a mistake...... You don't pay twice in the first year - you only pay for this year and a portion of next year payable in January which is already 3/4 through the year.... hardly twice.