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Yep. As a Hong Konger, it boggles my mind that tax codes in other 1st-world countries are so complex. In Hong Kong, you literally get about 3.5 pages of A4 to
by k_sze 6y ago
Yep. As a Hong Konger, it boggles my mind that tax codes in other 1st-world countries are so complex.
In Hong Kong, you literally get about 3.5 pages of A4 to fill for your annual income tax returns, the vast majority of which you can leave blank unless you are one of the richer people and do rich people things.
And then we have taxes on very few other things, which you simply pay at the time of purchase:
- Alcohol
- Motor vehicles
- Real estate
- Stocks
I don't think I'm missing anything important.
We have no other sales taxes otherwise. And look at us, we are a 1st-world economy, despite being such a small city.
- refurb 6y agoHong Kong's top bracket is 17%. Of course it's simple because the gov't doesn't collect much tax so doesn't need a bunch of exceptions and rules for tax relief.