Hong Kong Pays $200+ Billion in Tax

1.3 million taxpayers gave the Hong Kong Gov its best year ever.

Hong Kong taxpayers paid up a whopping HK$200 billion in taxes for 2007 and that’s up 29% from 2006.

You can read the whole amazing statement of the who’s/what’s/when’s here, but the really crazy data we picked out of it for you is:

- Tax cuts are coming this year - yay!

- Tax money came from salaries tax, stock market and property markets which have since all gone soft.

- Property stamp duty went up 106% to $51.5 billion over the previous year.

- There are only 1,325,000 taxpayers in Hong Kong. The latest population report says there are 6.98 million people living in Hong Kong - we have alot of old, young people and many living under taxable salaries.

- The big number is that the top 100,000 taxpayers out of that 1.3 million number contributed 71.2% of the TOTAL salaries tax. Which is turn was HK$91.4 billion. That is a lot of bankers keeping Hong Kong streets clean.

- And with all that money there were still 8 prosecuted tax-evaders.

I think what we take away from all this, is to tell your kids to grow up to be investment bankers and put law and medicine as #2 and #3 career choices.

And the government should pay to have Starbucks free in all of its Central locations.

No Comments

No comments yet.

Leave a comment