Information on Hong Kong SAR Minimum wage and taxes.

In the Hong Kong Special Administrative Region (SAR), the minimum wage and tax system is as follows:

1. Minimum Wage: Minimum wage in Hong Kong is determined on a daily basis and is revised every year in July. As of July 1, 2021, the daily minimum wage is set at 37.5 Hong Kong dollars. This works out to around HK$7,500 per month or around HK$90,000 per year. The minimum wage applies to all sectors and all categories of workers.

2. Tax System: The tax system applied in Hong Kong is known for a low tax rate. Personal income tax is calculated on a progressive schedule depending on the amount of income. In the 2021-2022 tax year, 2% for the first 50,000 Hong Kong dollars of income, 6% for 50,001 to 100,000 Hong Kong dollars, 10% for 100,001 to 150,000 Hong Kong dollars, 14% for 150,001 to 200,000 Hong Kong dollars and 200,001 Hong Kong dollars. A 17% tax applies to Hong Kong dollars and above. Hong Kong also imposes corporate tax for companies. The corporate tax rate is a flat 16% and is calculated on companies' profits in Hong Kong. Hong Kong also does not impose a consumption tax such as VAT or value added tax. However, there are taxes such as Special Consumption Tax (Special Stamp Duty) and Special Value Increase Tax (Special Rates) for some goods and services. This information reflects the situation as of July 2021. Tax rates and minimum wage may change over time, so you are advised to contact the Hong Kong Department of Finance or a qualified tax advisor for up-to-date information.