Federal Department of Foreign Affairs FDFA

Taxes

If you intend to emigrate to Hong Kong, you can obtain information on taxes from the FDFA.

Hong Kong has a simple tax system. Only income earned in Hong Kong is taxed.

Those who work in Hong Kong less than 60 days per year can apply for income tax exemption. The Inland Revenue Department (IRD) provides information on this and other topics.

It is interesting to note which taxes are not levied in Hong Kong:

No turnover tax or value added tax
No wealth tax
No withholding tax on dividends and interest
No inheritance tax
No gift tax
No VAT

The most important indirect tax in Hong Kong is the stamp duty, which is levied on transactions (transfer of shares, leases, land). It corresponds to the 'stamp' that makes the transactions valid.

Double taxation

Exchange of information

Switzerland and Hong Kong signed a bilateral agreement "on the automatic exchange of financial account information to improve international tax compliance" on 13 October 2017. Since 1 January 2018, Swiss financial institutions have been obliged, based on the provisional application of the AEOI Agreement, to collect information on accounts held in Switzerland by individuals or legal entities whose tax domicile is in Hong Kong, including Swiss citizens whose tax domicile is in Hong Kong. Within the AEOI framework, information is also exchanged on accounts into which state pensions are paid.