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Government rent in Hong Kong started on July 1, 1997, with the inception of the Joint Declaration. It said that new land grants contain a standard condition that the lessee is required to pay an annual rent, equal to 3% of the rateable value from time to time of the land leased.
Under Article 108 of the Basic Law of Hong Kong, the taxation system in Hong Kong is independent of, and different from, the taxation system in mainland China. In addition, under Article 106 of the Hong Kong Basic Law, Hong Kong has independent public finance, and no tax revenue is handed over to the Central Government in China. [ 1 ]
General; Tax avoidance. Repatriation tax avoidance; Tax evasion; Tax resistance; Tax shelter; Debtors' prison; Smuggling; Black market; Unreported employment; Corporate
In December 1979, the department's headquarters moved to Windsor House in Causeway Bay, a building that was specially designed with a second lift core for the department. [ 2 ] [ 3 ] In order to save on rental costs, the department moved again, in December 1991, to the eponymous government-owned Revenue Tower in Wanchai, where it remains ...
Unless specifically exempted under the Rating Ordinance (Chapter 116 of the Laws of Hong Kong), all properties in Hong Kong are liable to rating assessment, with rates payable at a specified percentage of the rateable value assessed on the property.
In Hong Kong, public housing is one of the major housing policies of the government. Nearly half of Hong Kong's 7.5 million population lives in public housing. [48] The two main public housing providers are the Housing Authority and the Housing Society. The most common types of public housing in Hong Kong are public rental housing (PRH) and ...
Inland Revenue Department (Hong Kong) Inland Revenue Ordinance; P. Partnership taxation (Hong Kong) Profits tax; S. Salaries tax; Scheme $6,000; Stamp Duty Ordinance
Failure to provide these may allow the tenant to receive a lower rent. [4] Outside of New York City, the state government determines the maximum rents and rate increases, and owners may periodically apply for increases. In New York City, rent control is based on the Maximum Base Rent system. A maximum allowable rent is established for each unit.