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Hong Kong
The Sovereign Group
In a previous article I wrote about the need to plan against inheritance taxes.
The Sovereign Group
For many foreign nationals Hong Kong is an ideal place to work and accumulate wealth but most choose to retire elsewhere.
The Sovereign Group
In my last article I wrote about the need to plan against inheritance taxes. One way of doing this is to transfer assets into trust. Once there the assets no longer belong to you, they belong to the trustees, so generally would not attract any tax charge on your death because the legal owner doesn’t change.
The Sovereign Group
Hong Kong has a very lenient system of taxation. The rates are low and tax is charged only on income which has a Hong Kong source.
The Sovereign Group
Although tax on salaries in Hong Kong is very low there are a number of steps which an employee, with the co-operation of a sympathetic employer, can take which will make a significant difference to their end of year tax bill.
ONC Lawyers
When a man dies, his estate will, after deduction of debts, funeral and testamentary expenses, be distributed according to his will or to the intestate law.
Angela Wang & Co.,
On 2 November 2005, the Legislative Council in Hong Kong passed the Revenue (Abolition of Estate Duty) Bill 2005 seeking to amend the Estate Duty Ordinance ("EDO") with a view to abolish estate duty in Hong Kong.
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