Hong Kong collected HK$189 million (US$24.1 million) from a hotel tax on guests for the first quarter following its reintroduction, with industry leaders raising concerns as to whether a HK$1.1 billion annual income target can be met. Industry veterans also called for more government support, saying the tax figures reflected that hotels were struggling and…
Hong Kong’s residential property market recovery is gaining traction, with transactions of lower-priced homes rising sharply on the back of improved sentiment and recent government tax relief measures. From March to May, 3,780 residential properties priced between HK$3 million (US$382,000) and HK$4 million were sold, a 73 per cent increase from the same period last…
Hong Kong’s residential property market recovery is gaining traction, with transactions of lower-priced homes rising sharply on the back of improved sentiment and recent government tax relief measures. From March to May, 3,780 residential properties priced between HK$3 million (US$382,000) and HK$4 million were sold, a 73 per cent increase from the same period last…
The tax filing season in Hong Kong is in full swing, with June 2 marking the deadline for most individuals. Tax audits have come under scrutiny recently after at least 20 journalists raised concerns about “unreasonable” reviews targeting them and their families. The Inland Revenue Department (IRD) Commissioner dismissed these claims, stressing that assessment procedures…
Hong Kong authorities have reviewed the taxes of at least 20 reporters and their family members for allegedly under-reporting their income and have asked them to prepay about HK$1 million (US$127,770), the city’s largest journalism group has said, arguing there was insufficient evidence for the reassessments. The Hong Kong Journalists Association also said on Wednesday…