Hong Kong’s Tax System – Country Profile
Hong Kong’s tax system is simple, low, and business-friendly. With a territorial approach, both individuals and corporations are only taxed on income sourced in Hong Kong. Corporate tax rates range from 8.25% to 16.5%, while personal income tax follows a progressive scale from 2% to 17%. There are no wealth, inheritance, or gift taxes, making […]
Macao’s Tax System – Country Profile
Macao’s tax system is simple, low-cost, and business-friendly. With a corporate tax rate of just 12% and personal income tax capped at 12%, it offers one of the most attractive tax environments in the world. There are no wealth, inheritance, or gift taxes, making it appealing for both businesses and individuals. While Macao has minimal […]
Taiwan’s Tax System – Country Profile
Taiwan’s tax system offers a straightforward structure with a flat 20% corporate income tax and progressive personal income tax reaching up to 40%. While there is no wealth tax, gift and inheritance taxes range from 10% to 20%. Taiwan enforces strict anti-avoidance rules, including newly implemented Controlled Foreign Corporation (CFC) regulations. The country has a […]
Philippines’ Tax System – Country Profile
The Philippines’ tax system follows a structured yet relatively high taxation model, with corporate tax at 30% and progressive personal tax rates reaching up to 35%. Gift and inheritance taxes are set at a flat 6%, while wealth tax is not imposed. The country maintains a mix of civil, common, and Islamic law, ensuring a […]
India’s Tax System – Country Profile
India’s tax system is structured with progressive personal income tax rates reaching up to 30% and corporate tax at a flat 30%, plus surcharges and cess. The country does not impose wealth, inheritance, or gift taxes, though certain transfers may be taxable. India follows OECD guidelines for Transfer Pricing and has strong anti-avoidance rules, including […]
China’s Tax System – Country Profile
China’s tax system is structured and tightly regulated, with a 25% corporate tax rate and progressive individual income tax reaching up to 45%. While there are no wealth, gift, or inheritance taxes, strict exchange controls and anti-avoidance measures ensure compliance. The country enforces global tax regulations through CFC rules and has a strong network of […]