Daily Archives: December 9, 2009

POLITICS – HK Time Out Magazine – Column #17

I’m currently contributing a short, light-hearted political column to Hong Kong Time Out Magazine. Below is the uncut, original version of my latest piece…

Taxing Times
Einstein claimed that the hardest thing to understand in the world is tax, yet even our most air-headed pseudo-model would grasp HK’s straightforward tax system. We’ve no sales, estate or currency tax, capital gains or VAT, and individuals pay 2%, 8% and 12% income tax progressively. Only the filthiest of the filthy rich (just 1.7%) pay the highest band of 17%. HK’s rates are relatively super low – it may just feel a lot because our demands arrive in one annual beating, such is the simplicity of our tax law. In fact, the entire ordinance stretches to just 200 pages and has barely changed in 60 years.