HK has world’s most business-friendly tax system, says PwC report
Hong Kong has the most business-friendly tax system in the world, according to a new ranking of 190 tax jurisdictions, by PricewaterhouseCoopers and the World Bank. Under Hong Kong’s low and simple tax system corporate profits are taxed at just 8.25 per cent on the first HK$2 million (US$255,000), after which the prevailing rate of 16.5 per cent applies. Salaries tax is capped at 15 per cent. There is no inheritance tax, no capital gains tax and no GST or VAT in Hong Kong.
Hong Kong for Business