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Do US residents have to pay taxes in Hong Kong on income paid by Hong Kong companies?

Released Date: Feb 19,2022 Article Source: HUANZE

Recently, I encountered such a problem in the audit of a Hong Kong company. The Hong Kong company paid income to an American, and the client said that the income had been declared and taxed in the United States, so it would not be taxed in Hong Kong.

I've been auditing one recentlyHong Kong companyIn one case, a Hong Kong company paid an American income that the client said the resident had already filed taxes in the United States but would not be taxed in Hong Kong. In fact, for this incomeHong Kong companyIs obliged to make a truthful declaration (i.e. submit an employee return) to the Hong Kong Inland Revenue Department if income exceedsHKD132000Salaries tax may be involved.

International tax treaties are often signed to avoid double taxation. However, the U.S. and Hong Kong do not have a comprehensive agreement to avoid double taxation. Therefore, even if a U.S. resident pays taxes in the United States, he or she needs to pay taxes in Hong Kong. If the client's income is justHong Kong companyIf the service provided is not based in Hong Kong, you can claim exemption from salaries tax on the basis that the employee does not live and work in Hong Kong.

SoHong Kong companyEmployees are obliged to truthfully declare their salaries to the tax bureau. If it involves international double taxation, it is necessary to refer to the tax treaties of various countries.

Do US residents have to pay taxes in Hong Kong on income paid by Hong Kong companies?

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